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December 22, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > Morgan, Business Loans > 1st National Bank - Morgan Morgan Business Loans > Child Day Care Services Loan | ||||
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Small Business Banks in Utah
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Borrowing Money for Child Day Care ServicesWith these loans for child day care services, the SBA guarantees the lender that the loan will be repaid. This child day care services loan for $35,000 was given to an Utah entrepreneur in 2003. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Layton, Utah was able to borrow $35,000 from 1st National Bank - Morgan. The SBA made the loan possible by guaranteeing $17,500 of this Utah small business loan. SBA Loan Borrower COMPANY TYPE: CHILD DAY CARE SERVICES SBA Loan Lender 1ST NATIONAL BANK - MORGAN This lender processed this SBA loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 624410 - Child Day Care Services Loan Approval Date 12/15/2003 Loan Approval Gross Amount $35,000 Loan Approval from the SBA Of the total $35,000 loan amount, the SBA guaranteed $17,500. 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 4 employees. The SBA loan application for the borrower indicated that the loan would help generate 8 new jobs and retain 4 existing jobs. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. 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. Related Links:
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