Business Loan from 1st National Bank - Layton Given to Drinking Places Company

1st National Bank - Layton has a track record as a leading provider of SBA loans. Find out how this Utah entrepreneur received an SBA loan from them.

This small firm received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with 1st National Bank - Layton, out of Layton, Utah. The loan was granted and they received $42,100 to help grow their Clearfield, Utah business.

SBA Loan Borrower

COMPANY TYPE: DRINKING PLACES
CLEARFIELD, UT 84015

SBA Loan Lender

1ST NATIONAL BANK - LAYTON
12 S MAIN ST
LAYTON, UT 84041

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722410 - Drinking Places

Loan Approval Date

3/1/2002

Loan Approval Gross Amount

$42,100

Loan Approval from the SBA

Of the total $42,100 loan amount, the SBA guaranteed $35,785.

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 4 employees. This SBA loan request did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Don't forget. To get an SBA loan, you must 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.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like 1st National Bank - Layton are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Bank Credit Lines

SBA 7A Banks in Layton, Utah

SBA Participating Banks in Utah