Orem, Utah Business Gets SBA-Guaranteed Funding from Americanwest Bank
An SBA loan from Americanwest Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Orem, Utah business owner got a $50,000 loan.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Orem, Utah was able to borrow $50,000 from Americanwest Bank. The SBA made the loan possible by guaranteeing $25,000 of this Utah small business loan.
SBA Loan Borrower
COMPANY TYPE: SPECIALTY TRADE CONTRACTORS
OREM, UT 84097
SBA Loan Lender
AMERICANWEST BANK
201 E CENTER ST
PROVO, UT 84606
This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.
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
238990 - Specialty Trade Contractors
Loan Approval Date
11/8/2004
Loan Approval Gross Amount
$50,000
Loan Approval from the SBA
Of the total $50,000 loan amount, the SBA guaranteed $25,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 9 employees. The SBA loan documents indicated that the loan would help retain 9 existing jobs.
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.
While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.
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:
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SBA Utah Lenders