Salt Lake City, Utah Lender Lends Money to Skilled Nursing Care Facilities Company

Find Salt Lake City, Utah banks that specialize in small business loans and know how to work with entrepreneurs. Merrill Lynch Bank Usa is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Baytown, Texas starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from Merrill Lynch Bank Usa. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: SKILLED NURSING CARE FACILITIES
BAYTOWN, TX 77520

SBA Loan Lender

MERRILL LYNCH BANK USA
15 W SOUTH TEMPLE, STE 300
SALT LAKE CITY, UT 84101

When it made this small business loan, this bank was part of the SBA's Certified Lenders Program (CLP). This program aims to offer rapid service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8051 - Skilled Nursing Care Facilities

NAICS Code

623110 - Nursing Care Facilities

Loan Approval Date

9/14/2000

Loan Approval Gross Amount

$700,000

Loan Approval from the SBA

Of the total $700,000 loan amount, the SBA guaranteed $525,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 60 employees. The loan application did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Merrill Lynch Bank Usa that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

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