Americanwest Bank SBA Loan to General Automotive Repair Company
Americanwest Bank has a track record as a leading provider of SBA loans. Find out how this Utah entrepreneur received an SBA loan from them.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Fountain Green, Utah was able to borrow $80,000 from Americanwest Bank. The SBA made the loan possible by guaranteeing $68,000 of this Utah small business loan.
SBA Loan Borrower
COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
FOUNTAIN GREEN, UT 84632
SBA Loan Lender
AMERICANWEST BANK
201 E CENTER ST
PROVO, UT 84606
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
811111 - General Automotive Repair
Loan Approval Date
4/8/2002
Loan Approval Gross Amount
$80,000
Loan Approval from the SBA
Of the total $80,000 loan amount, the SBA guaranteed $68,000.
More Information on This SBA Loan
The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had only one employee. The loan application did not indicate that the business promised to use the money to add employees or retain any existing employees.
Getting an SBA Loan For Your Business
The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.
Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $80,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?
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:
Business Credit Evaluation
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Getting a Business Loan in Utah