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November 21, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > Salt Lake City, Business Loans > Bank Of The West Salt Lake City Business Loans > Excavation Contractors Loan | ||||
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Salt Lake City Bank Loan
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Salt Lake City, Utah Bank Gives SBA Loan to Excavation Contractors CompanyWant to talk with a Salt Lake City, Utah bank about a small business loan? Here's one Colorado business loan, issued by a Salt Lake City bank, that was approved by the SBA. Applying for an SBA loan with Bank Of The West worked out well for our friends at one local firm in Granby, Colorado. They received an SBA loan for $46,400. Nice! SBA Loan Borrower COMPANY TYPE: EXCAVATION CONTRACTORS SBA Loan Lender BANK OF THE WEST This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 235930 - Excavation Contractors Loan Approval Date 3/20/2002 Loan Approval Gross Amount $46,400 Loan Approval from the SBA Of the total $46,400 loan amount, the SBA guaranteed $39,440. 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 only one employee. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan If you need money to start a small business or need money to grow a business, an SBA loan can be a great source of funding. If you need emergency business money, 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. Related Links: Role of Business Plan When Raising Money Small Bank Loans in Salt Lake City, Utah
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