Cedar City, Utah Bank Lends Money to Full-Service Restaurants Company in Panguitch, Utah

Find Cedar City, Utah banks that specialize in SBA loans and know how to work with entrepreneurs. State Bank Of Southern Utah is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Panguitch, Utah starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from State Bank Of Southern Utah. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
PANGUITCH, UT 84759

SBA Loan Lender

STATE BANK OF SOUTHERN UTAH
377 N MAIN ST
CEDAR CITY, UT 84720

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

722110 - Full-Service Restaurants

Loan Approval Date

8/24/2004

Loan Approval Gross Amount

$128,800

Loan Approval from the SBA

Of the total $128,800 loan amount, the SBA guaranteed $109,480.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 12 employees. The SBA loan application for the borrower did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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 State Bank Of Southern Utah 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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