Business Loan from Central Bank Given to Limited-Service Restaurants Company

Central Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Utah entrepreneur who tapped into the power of SBA loans.

This small firm knew how to go about getting a business bank loan. Based in Draper, Utah, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Central Bank, based in Provo, Utah.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
DRAPER, UT 84020

SBA Loan Lender

CENTRAL BANK
75 N UNIVERSITY AVE
PROVO, UT 84601

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

7/1/2005

Loan Approval Gross Amount

$149,900

Loan Approval from the SBA

Of the total $149,900 loan amount, the SBA guaranteed $112,425.

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 24 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Don't apply for a loan directly with the SBA. You need to 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.

This SBA loan was for $149,900. How would you spend $149,900 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Debt Financing

SBA 7A Banks in Provo, Utah

Utah SBA 7A Banks