Cedar City, Utah Entrepreneur Gets a Bank Loan

UtahSBA loans are available to Utah entrepreneurs through the SBA. In this case, an Utah bank provides the loan.

Getting a small business loan in Cedar City, Utah was a top priority for this particular business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from State Bank Of Southern Utah. Here are the details on this Utah small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
CEDAR CITY, UT 84720

SBA Loan Lender

STATE BANK OF SOUTHERN UTAH
377 N MAIN ST
CEDAR CITY, UT 84720

The lender provided this SBA business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

2/3/2003

Loan Approval Gross Amount

$11,300

Loan Approval from the SBA

Of the total $11,300 loan amount, the SBA guaranteed $5,650.

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 only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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SBA Banks in Cedar City, Utah

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