Utah Business Loan Issued to Full-Service Restaurants Company

UtahBank loans are available to Utah firms through the SBA. In this case, an Utah bank provides the loan.

Getting a small business loan in Logan, Utah was a top priority for this loan applicant back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Bank Of Utah. Here are the details on this Utah small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
LOGAN, UT 84321

SBA Loan Lender

BANK OF UTAH
2605 WASHINGTON BLVD
OGDEN, UT 84401

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

4/8/2003

Loan Approval Gross Amount

$175,000

Loan Approval from the SBA

Of the total $175,000 loan amount, the SBA guaranteed $131,250.

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 18 employees. The SBA loan documents indicated that the loan would help generate 24 new jobs and retain 18 existing jobs.

Next Steps for Getting an SBA Loan

If you have been wondering how do i get money to start a business in Logan UT, you ought to talk with a local Logan SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Logan businesses.

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.

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