Raising Money for Consumer Goods Rental

Looking for business loans for consumer goods rental? The SBA may be the answer. This $50,000 consumer goods rental loan was issued by an Utah bank.

This small business knew how to go about getting a business bank loan. Based in Orem, Utah, they applied for and were awarded an SBA-guaranteed loan in 2008. The lending bank was Amer Bank - Comm. D/b/a Ambank, based in Provo, Utah.

SBA Loan Borrower

COMPANY TYPE: CONSUMER GOODS RENTAL
OREM, UT 84097

SBA Loan Lender

AMER BANK - COMM. D/B/A AMBANK
3670 N UNIVERSITY AVE
PROVO, UT 84604

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide bank loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

532299 - Consumer Goods Rental

Loan Approval Date

1/30/2008

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

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 only one employee. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 1 existing job.

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.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Amer Bank - Comm. D/b/a Ambank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Small Business Loan

Banks in Provo, Utah

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