Entrepreneur Works With Heber City, Utah Bank to Get an SBA Loan

Get to know Heber City, Utah banks that specialize in business loans and know how to work with entrepreneurs. Grand Valley National Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Grand Junction, Colorado starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from Grand Valley National Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: LAWYERS
GRAND JUNCTION, CO 81505

SBA Loan Lender

GRAND VALLEY NATIONAL BANK
2 S MAIN ST
HEBER CITY, UT 84032

This lender issued this business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541110 - Lawyers

Loan Approval Date

6/19/2002

Loan Approval Gross Amount

$292,500

Loan Approval from the SBA

Of the total $292,500 loan amount, the SBA guaranteed $219,375.

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 3 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to increase staffing levels 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.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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