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December 18, 2024 |
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| Home > Small Business Lenders by State > Wyoming Business Loan Sources > Salt Lake City, Business Loans > Bank Of The West Salt Lake City Business Loans > Full-Service Restaurants Loan | ||||
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Bank Of The West Small Business Laramie
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Laramie, Wyoming Business Gets SBA-Guaranteed Funding from Bank Of The WestAn SBA loan from Bank Of The West typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Laramie, Wyoming business owner got a $353,800 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Laramie, Wyoming was able to borrow $353,800 from Bank Of The West. The SBA made the loan possible by guaranteeing $265,350 of this Wyoming small business loan. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender BANK OF THE WEST Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 6/12/2003 Loan Approval Gross Amount $353,800 Loan Approval from the SBA Of the total $353,800 loan amount, the SBA guaranteed $265,350. 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 28 employees. The SBA loan application for the borrower indicated that the loan would help generate 28 new jobs and retain 28 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Bank Of The West and they will explain how you can get an SBA loan for your company. 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: Obtaining Funding From a Venture Capitalist Where to Get an SBA Loan in Salt Lake City, Utah
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