Douglas, Wyoming Business Gets SBA-Guaranteed Funding from Bank Of The West

An SBA loan from Bank Of The West typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Douglas, Wyoming business owner got a $83,000 loan.

This growing company knew how to go about getting a business bank loan. Based in Douglas, Wyoming, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Bank Of The West, based in Salt Lake City, Utah.

SBA Loan Borrower

COMPANY TYPE: ONE-HOUR PHOTOFINISHING
DOUGLAS, WY 82633

SBA Loan Lender

BANK OF THE WEST
142 EAST 200 SOUTH
SALT LAKE CITY, UT 84111

This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812922 - One-Hour Photofinishing

Loan Approval Date

2/26/2002

Loan Approval Gross Amount

$83,000

Loan Approval from the SBA

Of the total $83,000 loan amount, the SBA guaranteed $70,550.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

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

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Bank Of The West so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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