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November 21, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > West Valley City, Business Loans > Zions First National Bank West Valley City Business Loans > Intermediate Care Facilities Loan | ||||
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Utah Small Business Funding
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Nursing Care Facilities LoansWith these loans for nursing care facilities, the SBA guarantees the lender that the loan will be repaid. This nursing care facilities loan for $440,000 was given to an Utah entrepreneur in 2002. This company received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Zions First National Bank, out of West Valley City, Utah. The loan was granted and they received $440,000 to help grow their Layton, Utah business. SBA Loan Borrower COMPANY TYPE: INTERMEDIATE CARE FACILITIES SBA Loan Lender ZIONS FIRST NATIONAL BANK When this loan was made, this bank was part of the SBA's Certified Lenders Program (CLP). This program is designed to offer expeditious 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 8052 - Intermediate Care Facilities NAICS Code 623110 - Nursing Care Facilities Loan Approval Date 5/9/2002 Loan Approval Gross Amount $440,000 Loan Approval from the SBA Of the total $440,000 loan amount, the SBA guaranteed $330,000. 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 documents did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Raising VC Money for Social Networking Companies Where to Get an SBA Loan in West Valley City, Utah
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