Entrepreneur Works With Salt Lake City, Utah Bank to Get an SBA Loan

A Salt Lake City, Utah SBA loan can be yours. Learn how a company got a $409,500 business loan from this Utah bank.

This loan to a local firm is a good example of an SBA loan. Zions First National Bank made the loan and the SBA guaranteed a portion of the loan. Many other Washington entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

COMPANY TYPE: SOIL PREPARATION, PLANTING, AND CULTIVATING
MOSES LAKE, WA 98837

SBA Loan Lender

ZIONS FIRST NATIONAL BANK
1 S MAIN ST
SALT LAKE CITY, UT 84111

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

115112 - Soil Preparation, Planting, and Cultivating

Loan Approval Date

12/18/2006

Loan Approval Gross Amount

$409,500

Loan Approval from the SBA

Of the total $409,500 loan amount, the SBA guaranteed $307,125.

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 2 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 5 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $409,500 loan. Remember, you control your own destiny.

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 Decide How Much to Raise

Where to Get an SBA Loan in Salt Lake City, Utah

Utah SBA 7A Banks