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November 15, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > Layton, Business Loans > 1st National Bank - Layton Layton Business Loans > Plastics, Foil, And Coated Paper Bag Manufacturing Loan | ||||
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Raising Money in Draper, Utah With SBA Loans
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Borrowing Money for Plastics, Foil, and Coated Paper Bag ManufacturingLooking for bank loans for plastics, foil, and coated paper bag manufacturing? Talk to a banker who works with the SBA. This $50,000 plastics, foil, and coated paper bag manufacturing loan was issued by an Utah bank. This small firm knew how to go about getting a business bank loan. Based in Draper, Utah, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was 1st National Bank - Layton, based in Layton, Utah. SBA Loan Borrower COMPANY TYPE: PLASTICS, FOIL, AND COATED PAPER BAG MANUFACTURING SBA Loan Lender 1ST NATIONAL BANK - LAYTON Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 322223 - Plastics, Foil, and Coated Paper Bag Manufacturing Loan Approval Date 10/4/2004 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The loan application indicated that the loan would help retain 4 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. 1st National Bank - Layton had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, 1st National Bank - Layton made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Obtaining Funding From a Venture Capitalist Find an SBA Lender in Layton, Utah
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