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November 21, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Salt Lake City, Business Loans > Merrill Lynch Bank Usa Salt Lake City Business Loans > Automotive Services Loan | ||||
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SBA Lenders Utah
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Salt Lake City, Utah Lender Lends Money to Automotive Services CompanyA Salt Lake City, Utah SBA loan can be yours. Learn how one firm got a $434,000 business loan from this Utah bank. This loan to an entrepreneur is a good example of an SBA loan. Merrill Lynch Bank Usa made the loan and the SBA guaranteed a portion of the loan. Many other Michigan entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE SERVICES SBA Loan Lender MERRILL LYNCH BANK USA This lender provides SBA loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7549 - Automotive Services NAICS Code 811198 - Automotive Repair and Maintenance Loan Approval Date 8/10/2000 Loan Approval Gross Amount $434,000 Loan Approval from the SBA Of the total $434,000 loan amount, the SBA guaranteed $325,500. 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 6 employees. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 6 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Merrill Lynch Bank Usa that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Banking Deregulation's Effects on Entrepreneurship SBA 7A Banks in Salt Lake City, Utah
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