Snack and Nonalcoholic Beverage Bars Bank Loans

Looking for bank loans for snack and nonalcoholic beverage bars? An SBA loan may be just what you've been looking for. This $140,700 snack and nonalcoholic beverage bars loan was issued by an Utah bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Murray, Utah was able to borrow $140,700 from Bank Of The West. The SBA made the loan possible by guaranteeing $119,595 of this Utah small business loan.

SBA Loan Borrower

COMPANY TYPE: RETAIL BAKERIES
MURRAY, UT 84121

SBA Loan Lender

BANK OF THE WEST
142 EAST 200 SOUTH
SALT LAKE CITY, UT 84111

When this loan was made, the lender participated in the SBA's Certified Lenders Program (CLP). This program aims to ensure speedy service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5461 - Retail Bakeries

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

12/6/2002

Loan Approval Gross Amount

$140,700

Loan Approval from the SBA

Of the total $140,700 loan amount, the SBA guaranteed $119,595.

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 22 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Microlending as a Small Business Funding Source

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

SBA Lenders in Utah