Raising Money for Residential Electric Lighting Fixture Manufacturing

With these bank loans for residential electric lighting fixture manufacturing, the SBA guarantees the lender that the loan will be repaid. This residential electric lighting fixture manufacturing loan for $35,000 was given to an Utah entrepreneur in 2004.

Getting a small business loan in Farmington, Utah was important for this company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Barnes Banking Company, operating out of Kaysville, Utah. Here are the details on this Utah small business loan.

SBA Loan Borrower

COMPANY TYPE: RESIDENTIAL ELECTRIC LIGHTING FIXTURE MANUFACTURING
FARMINGTON, UT 84025

SBA Loan Lender

BARNES BANKING COMPANY
33 S MAIN ST
KAYSVILLE, UT 84037

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

335121 - Residential Electric Lighting Fixture Manufacturing

Loan Approval Date

6/16/2004

Loan Approval Gross Amount

$35,000

Loan Approval from the SBA

Of the total $35,000 loan amount, the SBA guaranteed $29,750.

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 2 employees. The SBA loan documents did not indicate that the company planned to use the funding to add employees 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.

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.

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