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November 14, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > Salt Lake City, Business Loans > First Utah Bank Salt Lake City Business Loans > Car Washes Loan | ||||
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Raising Money in Midvale, Utah With SBA Loans
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Car Washes SBA LoansWith these SBA loans for car washes, the SBA guarantees the lender that the loan will be repaid. This car washes loan for $40,000 was given to an Utah entrepreneur in 2007. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Midvale, Utah was able to borrow $40,000 from First Utah Bank. The SBA made the loan possible by guaranteeing $20,000 of this Utah small business loan. SBA Loan Borrower COMPANY TYPE: CAR WASHES SBA Loan Lender FIRST UTAH BANK The lender provided this SBA loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 811192 - Car Washes Loan Approval Date 4/13/2007 Loan Approval Gross Amount $40,000 Loan Approval from the SBA Of the total $40,000 loan amount, the SBA guaranteed $20,000. 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 4 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 4 existing jobs. Getting an SBA Loan For Your Business 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. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like First Utah Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: Best Banks for Small Business in Salt Lake City, Utah
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