Layton, Utah Lender Lends Money to Machine Shops Company

Get to know Layton, Utah banks that specialize in small business loans and know how to work with entrepreneurs. 1st National Bank - Layton is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Layton, Utah starts with an understanding of who else has gotten loans in the area. In this case, a small company received funding from 1st National Bank - Layton. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: MACHINE SHOPS
LAYTON, UT 84041

SBA Loan Lender

1ST NATIONAL BANK - LAYTON
12 S MAIN ST
LAYTON, UT 84041

This lender processed this commercial 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

332710 - Machine Shops

Loan Approval Date

5/31/2002

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $75,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 7 employees. The SBA loan application for the borrower indicated that the loan would help generate 8 new jobs and retain 15 existing jobs.

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.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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SBA Participating Banks in Layton, Utah

SBA Participating Banks in Utah