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December 22, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Salt Lake City, Business Loans > Merrill Lynch Bank Usa Salt Lake City Business Loans > Repair Shops And Related Services Loan | ||||
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Utah Bank SBA Loans
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Merrill Lynch Bank Usa SBA Loan to Repair Shops And Related Services CompanySearching for a California business loan? Here's one California business loan that was approved by the SBA. This growing firm needed an SBA business loan in Pleasanton, California back in 2000 and, after submitting their loan application, they were successful in getting an SBA loan from Merrill Lynch Bank Usa, operating out of Salt Lake City, Utah. Here are the details on this California small business loan. SBA Loan Borrower COMPANY TYPE: REPAIR SHOPS AND RELATED SERVICES SBA Loan Lender MERRILL LYNCH BANK USA This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7699 - Repair Shops and Related Services Loan Approval Date 1/6/2000 Loan Approval Gross Amount $504,000 Loan Approval from the SBA Of the total $504,000 loan amount, the SBA guaranteed $378,000. 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 15 employees. The loan application indicated that the loan would help generate 3 new jobs and retain 18 existing jobs. Start the Process for Getting an SBA Loan Today! If you are interested in getting money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding. 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: SBA 7A Lenders in Salt Lake City, Utah
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