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November 22, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > Layton, Business Loans > 1st National Bank - Layton Layton Business Loans > Full-Service Restaurants Loan | ||||
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Layton, Utah Bank for SBA Loans
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Entrepreneur Works With Layton, Utah Bank to Get an SBA LoanWant to talk with a Layton, Utah bank about a business loan? Here's one Utah business loan, issued by a Layton bank, that was approved by the SBA. Applying for an SBA loan with 1st National Bank - Layton worked out well for our friends at one local firm in Layton, Utah. The business was able to get an SBA loan for $55,000. Nice! SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender 1ST NATIONAL BANK - LAYTON The lender provided this loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 722110 - Full-Service Restaurants Loan Approval Date 9/21/2007 Loan Approval Gross Amount $55,000 Loan Approval from the SBA Of the total $55,000 loan amount, the SBA guaranteed $27,500. 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 16 employees. This SBA loan request indicated that the loan would help generate 6 new jobs and retain 16 existing jobs. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into 1st National Bank - Layton and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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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