Salt Lake City, Utah Lender Lends Money to Lessors Of Real Estate Property Company

Get to know Salt Lake City, Utah banks that specialize in SBA loans and know how to work with entrepreneurs. First Utah Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Midvale, Utah starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from First Utah Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: LESSORS OF REAL ESTATE PROPERTY
MIDVALE, UT 84047

SBA Loan Lender

FIRST UTAH BANK
3826 S 2300 EAST
SALT LAKE CITY, UT 84109

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

531190 - Lessors of Real Estate Property

Loan Approval Date

1/28/2008

Loan Approval Gross Amount

$225,500

Loan Approval from the SBA

Of the total $225,500 loan amount, the SBA guaranteed $169,125.

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 5 employees. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 5 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

We can help you find the best banks for small businesses in Midvale or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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