Firm Gets an Utah Small Business Loan

Looking to get an Utah small business loan? This Utah entrepreneur got a small business loan, provided by an Utah bank that works with the SBA to help small business owners.

Getting a small business loan in Lindon, Utah was a top priority for this small company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Centennial Bank. Here are the details on this Utah small business loan.

SBA Loan Borrower

COMPANY TYPE: MATERIALS RECOVERY FACILITIES
LINDON, UT 84042

SBA Loan Lender

CENTENNIAL BANK
4605 HARRISON BLVD, STE #1
OGDEN, UT 84403

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

562920 - Materials Recovery Facilities

Loan Approval Date

9/22/2006

Loan Approval Gross Amount

$650,000

Loan Approval from the SBA

Of the total $650,000 loan amount, the SBA guaranteed $487,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The loan application did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Centennial Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Small Business Credit Cards

Where to Get an SBA Loan in Ogden, Utah

Utah SBA 7A Banks