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November 14, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > American Fork, Business Loans > Bank Of American Fork American Fork Business Loans > Automotive Services Loan | ||||
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Utah Bank SBA Loans
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Bank Of American Fork SBA Loan to Automotive Services CompanyWant an Utah SBA loan? Here's one Utah business loan that was approved by the SBA. This small business needed an SBA business loan in Lehi, Utah back in 2000 and, after submitting their loan application, they were successful in getting an SBA loan from Bank Of American Fork, operating out of American Fork, Utah. Here are the details on this Utah small business loan. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE SERVICES SBA Loan Lender BANK OF AMERICAN FORK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA business loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7549 - Automotive Services Loan Approval Date 8/2/2000 Loan Approval Gross Amount $176,000 Loan Approval from the SBA Of the total $176,000 loan amount, the SBA guaranteed $132,000. 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 only one employee. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $176,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: SBA 7A Lenders in American Fork, Utah Browse All Business Loan Sources for Utah
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