How to Get a Loan for Textile Product Mills

Looking for business loans for textile product mills? Try the SBA. This $51,300 textile product mills loan was issued by an Utah bank.

Getting a small business loan in Logan, Utah was important for this small business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from America First Fcu, operating out of Riverdale, Utah. Here are the details on this Utah small business loan.

SBA Loan Borrower

COMPANY TYPE: TEXTILE PRODUCT MILLS
LOGAN, UT 84321

SBA Loan Lender

AMERICA FIRST FCU
1344 WEST 4675 SOUTH
RIVERDALE, UT 84405

This lender processed this debt financing under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

314999 - Textile Product Mills

Loan Approval Date

12/21/2004

Loan Approval Gross Amount

$51,300

Loan Approval from the SBA

Of the total $51,300 loan amount, the SBA guaranteed $25,650.

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 2 employees. This SBA loan request indicated that the loan would help retain 2 existing jobs.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into America First Fcu and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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