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December 22, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > West Jordan, Business Loans > Mountain America Fcu West Jordan Business Loans > Food Service Contractors Loan | ||||
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Utah SBA Banks
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West Jordan, Utah Bank Lends Money to Food Service Contractors Company in Lindon, UtahThinking about meeting with a West Jordan, Utah bank about an SBA loan? Here's one Utah business loan, issued by a West Jordan bank, that was approved by the SBA. Applying for an SBA loan with Mountain America Fcu worked out well for our friends at one local business in Lindon, Utah. They got an SBA loan for $25,000. Way to go! SBA Loan Borrower COMPANY TYPE: FOOD SERVICE CONTRACTORS SBA Loan Lender MOUNTAIN AMERICA FCU This bank loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. 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 722310 - Food Service Contractors Loan Approval Date 7/13/2005 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $12,500. More Information on This SBA Loan The borrower borrowed this money for a new 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 2 employees. The loan application indicated that the loan would help generate 3 new jobs and retain 2 existing jobs. Getting an SBA Loan For Your Business SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. 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: Good Banks for Small Business in West Jordan, Utah
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