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November 21, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > West Valley City, Business Loans > Zions First National Bank West Valley City Business Loans > General Freight Trucking, Local Loan | ||||
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Utah Small Business Funding
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Loans for General Freight Trucking, LocalLooking for loans for general freight trucking, local? Talk to a banker who works with the SBA. This $252,000 general freight trucking, local loan was issued by an Utah bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Bear River City, Utah was able to borrow $252,000 from Zions First National Bank. The SBA made the loan possible by guaranteeing $189,000 of this Utah small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL FREIGHT TRUCKING, LOCAL SBA Loan Lender ZIONS FIRST NATIONAL BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 484110 - General Freight Trucking, Local Loan Approval Date 7/25/2006 Loan Approval Gross Amount $252,000 Loan Approval from the SBA Of the total $252,000 loan amount, the SBA guaranteed $189,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 1 existing job. Great, But How Can I Get an SBA Loan for My Business? If you are working on finding money to start a business in Bear River City UT, you ought to talk with a local Bear River City SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Bear River City businesses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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. Related Links: Determining Proper Capital Structure for a Business SBA Banks in West Valley City, Utah
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