Local Business Gets an Utah Small Business Loan

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

Getting a small business loan in Orem, Utah was a top priority for this SBA-financed company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from First Utah Bank. Here are the details on this Utah small business loan.

SBA Loan Borrower

COMPANY TYPE: TELEMARKETING BUREAUS AND CONTACT CENTERS
OREM, UT 84057

SBA Loan Lender

FIRST UTAH BANK
3826 S 2300 EAST
SALT LAKE CITY, UT 84109

This lender processed this bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

561422 - Telemarketing Bureaus and Contact Centers

Loan Approval Date

7/31/2007

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $12,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help generate 15 new jobs and retain 16 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Getting a Small Business Loan

SBA 7A Lenders in Salt Lake City, Utah

SBA Participating Banks in Utah