Murray, Utah Business Gets SBA-Guaranteed Funding from Bank Of American Fork

An SBA loan from Bank Of American Fork typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Murray, Utah business owner got a $415,000 loan.

Getting a small business loan in Murray, Utah was an essential business goal for this firm back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Bank Of American Fork, operating out of American Fork, Utah. Here are the details on this Utah small business loan.

SBA Loan Borrower

COMPANY TYPE: CUSTOM COMPUTER PROGRAMMING SERVICES
MURRAY, UT 84107

SBA Loan Lender

BANK OF AMERICAN FORK
33 E MAIN
AMERICAN FORK, UT 84003

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

541511 - Custom Computer Programming Services

Loan Approval Date

9/6/2005

Loan Approval Gross Amount

$415,000

Loan Approval from the SBA

Of the total $415,000 loan amount, the SBA guaranteed $311,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 12 employees. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 12 existing jobs.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Bank Of American Fork and they will explain how you can get an SBA loan for your company.

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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