Orem, Utah Entrepreneur Gets an SBA Loan

Would an Utah SBA loan help your business get to the next level? If so, you may want to talk with this Utah bank, which offers SBA loans to Utah entrepreneurs.

This company, based in Orem, Utah, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Capital Community Bank. We've got the inside scoop on this Utah small business loan.

SBA Loan Borrower

COMPANY TYPE: FOOD SUPPLEMENT STORES
OREM, UT 84058

SBA Loan Lender

CAPITAL COMMUNITY BANK
3280 N UNIVERSITY AVE
PROVO, UT 84604

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

446191 - Food Supplement Stores

Loan Approval Date

6/5/2002

Loan Approval Gross Amount

$66,700

Loan Approval from the SBA

Of the total $66,700 loan amount, the SBA guaranteed $56,695.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The loan application did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

This SBA loan was for $66,700. How would you spend $66,700 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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