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November 21, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > Salt Lake City, Business Loans > Bank Of The West Salt Lake City Business Loans > Used Merchandise Stores Loan | ||||
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Salt Lake City, Utah SBA Banks
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Salt Lake City, Utah Bank Gives SBA Loan to Used Merchandise Stores CompanyThinking about meeting with a Salt Lake City, Utah bank about an SBA loan? Here's one Utah business loan, issued by a Salt Lake City bank, that was approved by the SBA. Applying for an SBA loan with Bank Of The West worked out well for our friends at one local business in Bountiful, Utah. They got an SBA loan for $87,200. Nice! SBA Loan Borrower COMPANY TYPE: USED MERCHANDISE STORES SBA Loan Lender BANK OF THE WEST This small business loan was provided by financing institution with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan requests to the SBA get more expeditious service from the SBA on their loan applications. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5932 - Used Merchandise Stores NAICS Code 451211 - Book Stores Loan Approval Date 5/14/2001 Loan Approval Gross Amount $87,200 Loan Approval from the SBA Of the total $87,200 loan amount, the SBA guaranteed $74,120. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the business promised to use the funding to add employees or retain any existing employees. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Bank Of The West 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. Related Links: Role of Business Plan When Raising Money SBA Participating Banks in Salt Lake City, Utah
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