Orem, Utah Business Gets SBA-Guaranteed Funding from Deseret First Fcu

An SBA loan from Deseret First Fcu typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Orem, Utah business owner got a $40,000 loan.

This business knew how to go about getting a business bank loan. Based in Orem, Utah, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was Deseret First Fcu, based in Salt Lake City, Utah.

SBA Loan Borrower

COMPANY TYPE: MEN'S CLOTHING STORES
OREM, UT 84058

SBA Loan Lender

DESERET FIRST FCU
2480 S 3850 WEST, STE C
SALT LAKE CITY, UT 84120

This business loan 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

448110 - Men's Clothing Stores

Loan Approval Date

3/10/2006

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $20,000.

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 23 employees. The SBA loan documents indicated that the loan would help retain 23 existing jobs.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

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.

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