Orem, Utah Entrepreneur Gets an SBA Loan
UtahSmall business loans are available to Utah small business owners through the SBA. In this case, an Utah bank provides the loan.
Getting a small business loan in Orem, Utah was a top priority for this small company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Americanwest Bank. Here are the details on this Utah small business loan.
SBA Loan Borrower
COMPANY TYPE: FLOOR COVERING STORES
OREM, UT 84057
SBA Loan Lender
AMERICANWEST BANK
201 E CENTER ST
PROVO, UT 84606
This loan for a small business was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
NAICS Code
442210 - Floor Covering Stores
Loan Approval Date
10/21/2003
Loan Approval Gross Amount
$250,000
Loan Approval from the SBA
Of the total $250,000 loan amount, the SBA guaranteed $125,000.
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 45 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 45 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.
Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Americanwest Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).
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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