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November 21, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > West Jordan, Business Loans > Cyprus Fcu West Jordan Business Loans > Used Car Dealers Loan | ||||
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Requirements for Small Businesses On Getting a Loan
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Used Car Dealers LoansWith these loans for used car dealers, the SBA guarantees the lender that the loan will be repaid. This used car dealers loan for $57,500 was given to an Utah entrepreneur in 2007. This company knew how to go about getting a business bank loan. Based in Delta, Utah, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Cyprus Fcu, based in West Jordan, Utah. SBA Loan Borrower COMPANY TYPE: USED CAR DEALERS SBA Loan Lender CYPRUS FCU This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 441120 - Used Car Dealers Loan Approval Date 3/27/2007 Loan Approval Gross Amount $57,500 Loan Approval from the SBA Of the total $57,500 loan amount, the SBA guaranteed $28,750. More Information on This SBA Loan The borrower borrowed this money for an existing 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 2 employees. The loan application indicated that the loan would help retain 2 existing jobs. Start the Process for Getting an SBA Loan Today! If you are wondering how to raise money for a business in Delta UT, you ought to talk with a local Delta SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Delta businesses. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: SBA 7A Banks in West Jordan, Utah
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