Wells Fargo Bank SBA Loan to Concrete Work Company

Wells Fargo Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Utah entrepreneur who tapped into the power of SBA loans.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Layton, Utah was able to borrow $342,000 from Wells Fargo Bank. The SBA made the loan possible by guaranteeing $256,500 of this Utah small business loan.

SBA Loan Borrower

COMPANY TYPE: CONCRETE WORK
LAYTON, UT 84040

SBA Loan Lender

WELLS FARGO BANK
405 S MAIN ST
SALT LAKE CITY, UT 84111

When it made this small business loan, the lender participated in the SBA's Certified Lenders Program (CLP). This program is designed to give rapid service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1771 - Concrete Work

Loan Approval Date

6/14/2000

Loan Approval Gross Amount

$342,000

Loan Approval from the SBA

Of the total $342,000 loan amount, the SBA guaranteed $256,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 55 employees. The SBA loan documents did not indicate that the business promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a company in Layton UT, you ought to talk with a local Layton SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Layton businesses.

This SBA loan was for $342,000. How would you spend $342,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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