SBA 7(a) Loans in Denver: Rates, Requirements
Denver is the capital and most populous municipality of the U.S. state of Colorado. Denver is located in the South Platte River Valley on the western edge of the High Plains just east of the Front Range of the Rocky Mountains. The Denver downtown district is immediately east of the confluence of Cherry Creek with the South Platte River, approximately 12mi east of the foothills of the Rocky Mountains. With an estimated population of 727,211 in 2019, Denver is the 19th-most populous city in the United States, the fifth-most populous state capital, and the most populous city located in the Mountain states. The metropolitan area surrounding Denver represents a majority of the population and economic activity in the Front Range region, an area within which an estimated 85% of Colorado's population lives.
The Denver economy is strong and diversified, with major contributions from health care, telecommunications, aerospace, and manufacturing. The Denver metropolitan area is home to many national and international companies, including but not limited to Ball Aerospace & Technologies, DaVita, Dish Network, Gates Corporation, Lockheed Martin, and Western Union. The city also houses several major sports teams, including the Denver Broncos (NFL), Colorado Rockies (MLB), Denver Nuggets (NBA), and Colorado Avalanche (NHL).
Small businesses are a vital part of the Denver economy, accounting for over 99% of all businesses in the city. According to the U.S. Small Business Administration, there are over 100,000 small businesses in Denver, employing over 500,000 people. The most popular industries for small businesses in Denver are professional, scientific, and technical services; health care and social assistance; and retail trade.
The City of Denver offers a variety of programs and resources to support small businesses, including business counseling, financing, and technical assistance. The city also offers a Small Business Development Center, which provides free or low-cost business counseling and training to small business owners and entrepreneurs.
When it comes to small business loans, the SBA 7(a), SBA 504, and SBA Express programs are some of the best options available. Boasting favorable terms and low rates, these financing vehicles can provide up to $5 million for your business plans.
SBA 7(a) Loans specifically connects small business owners with lenders across the country who are prepared to offer the very best terms to support their businesses. If you're looking to buy commercial real estate or equipment, or if you need access to repair capital, SBA 7(a) loans should definitely be one of your top options.
Our experienced team will provide you with the very best terms from our network of lenders to ensure your business has what it needs to succeed. We offer this service completely free of charge.
Looking for more information about Denver? Read on below. Otherwise, click the button below, and we'll get right back to you with your free SBA 7(a) loan quote.
SBA Loans Comparison Table
Small Business Loans Available in Denver
There are several options for small business loans in Denver. The Small Business Administration (SBA) offers several loan programs, including the 7a, 504, and Express programs, that can be used for a variety of purposes, such as working capital, equipment, and real estate. SBA loans are backed by the government and usually have lower interest rates and longer repayment terms than other types of loans.
1. SBA 7(a) Loans
The SBA 7(a) loan program is the Small Business Administration's most popular loan program. It can be used for a variety of different purposes, from working capital to equipment and even real estate. An SBA 7(a) loan's interest rate is generally lower than interest rates on conventional loans. Loan terms are also longer than most conventional loans, which keeps monthly debt service costs low. SBA 7(a) loans are capped at $5 million.
2. SBA 504 Loan
The SBA 504 program is aimed at businesses looking to acquire heavy equipment or fixed assets or for purchasing or developing real estate. Loan terms are typically up to 10 years for equipment purchases and 25 years for real estate, and interest rates are generally lower than most conventional financing options.
3. SBA Express Loans
SBA's Express Loan program are designed for speed: While loans max out at $500,000, the application turnaround time is just a few days. This convenience does not come for free, with interest rates generally higher — and repayment schedules typically shorter — than other SBA loan types, which increases the cost of debt service.
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