Monticello, Utah Business Gets SBA-Guaranteed Funding from Celtic Bank Corporation

Celtic Bank Corporation has a track record as a leading provider of SBA loans. Find out how this Utah entrepreneur received an SBA loan from them.

This business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Celtic Bank Corporation, out of Salt Lake City, Utah. The loan was granted and they received $2,000,000 to help grow their Monticello, Utah business.

SBA Loan Borrower

COMPANY TYPE: SCHOOLS AND INSTRUCTION
MONTICELLO, UT 84535

SBA Loan Lender

CELTIC BANK CORPORATION
340 E 400
SALT LAKE CITY, UT 84111

This lender provides SBA commercial loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

611699 - Schools and Instruction

Loan Approval Date

3/25/2005

Loan Approval Gross Amount

$2,000,000

Loan Approval from the SBA

Of the total $2,000,000 loan amount, the SBA guaranteed $1,500,000.

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 15 employees. This SBA loan request indicated that the loan would help generate 5 new jobs and retain 15 existing jobs.

Getting an SBA Loan For Your 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.

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 Celtic Bank Corporation 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:

Obtaining Funding - How to Borrow Money

SBA 7A Banks for Salt Lake City, Utah Loans

Browse All Business Loan Sources for Utah