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November 21, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > Provo, Business Loans > Central Bank Provo Business Loans > Specialized Long-Distance Freight Trucking Loan | ||||
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Central Bank
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SBA Loan from Central Bank Helps Specialized Long-Distance Freight Trucking CompanyCentral Bank has a track record as a leading provider of SBA loans. Find out how this Utah entrepreneur received an SBA loan from them. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Payson, Utah was able to borrow $150,000 from Central Bank. The SBA made the loan possible by guaranteeing $127,500 of this Utah small business loan. SBA Loan Borrower COMPANY TYPE: SPECIALIZED LONG-DISTANCE FREIGHT TRUCKING SBA Loan Lender CENTRAL BANK This lender issued this particular SBA bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 484230 - Specialized Long-Distance Freight Trucking Loan Approval Date 2/2/2004 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 3 employees. This SBA loan request did not indicate that the business planned to use the money 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. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Central Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Central Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Borrowing Money from Friends and Family SBA Approved Banks in Provo, Utah
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