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November 23, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > Salt Lake City, Business Loans > Zions First National Bank Salt Lake City Business Loans > Sporting And Recreational Goods And Supplies Merchant Wholesalers Loan | ||||
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Salt Lake City Bank Loan
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Salt Lake City, Utah Bank Gives SBA Loan to Sporting And Recreational Goods And Supplies Merchant Wholesalers CompanyThinking about meeting with a Salt Lake City, Utah bank about an SBA loan? Here's one Utah business loan, issued by a Salt Lake City bank, that was approved by the SBA. Applying for an SBA loan with Zions First National Bank worked out well for our friends at one local company in Mona, Utah. The business was able to get an SBA loan for $172,000. Way to go! SBA Loan Borrower COMPANY TYPE: SPORTING AND RECREATIONAL GOODS AND SUPPLIES MERCHANT WHOLESALERS SBA Loan Lender ZIONS FIRST NATIONAL BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 423910 - Sporting and Recreational Goods and Supplies Merchant Wholesalers Loan Approval Date 6/25/2007 Loan Approval Gross Amount $172,000 Loan Approval from the SBA Of the total $172,000 loan amount, the SBA guaranteed $129,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 14 employees. This SBA loan request indicated that the loan would help generate 6 new jobs and retain 8 existing jobs. Next Steps for Getting an SBA Loan SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new 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 Zions First National Bank 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. Related Links: SBA Participating Banks in Salt Lake City, Utah
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