Lehi, Utah Business Gets SBA-Guaranteed Funding from Capital Community Bank

Capital Community Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how an Utah entrepreneur was able to get a loan to take a small business to the next level.

This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Capital Community Bank, out of Pleasant Grove, Utah. The loan was granted and they received $95,000 to help grow their Lehi, Utah business.

SBA Loan Borrower

COMPANY TYPE: ELECTRONIC PARTS AND EQUIPMENT WHOLESALERS
LEHI, UT 84043

SBA Loan Lender

CAPITAL COMMUNITY BANK
1909 W STATE ST
PLEASANT GROVE, UT 84062

This lender issued this particular business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

421690 - Electronic Parts and Equipment Wholesalers

Loan Approval Date

7/31/2002

Loan Approval Gross Amount

$95,000

Loan Approval from the SBA

Of the total $95,000 loan amount, the SBA guaranteed $80,750.

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 10 employees. The SBA loan documents did not indicate that the company planned 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?

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

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $95,000 loan. Remember, if it to be, it is up to me!

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:

Obtaining Funding - How to Borrow Money

Find an SBA Lender in Pleasant Grove, Utah

Getting an SBA Loan in Utah