Zions First National Bank SBA Loan to Automotive Transmission Repair Company

Zions First National Bank has a track record as a leading provider of SBA loans. Find out how this Utah entrepreneur received an SBA loan from them.

This small firm received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Zions First National Bank, out of West Valley City, Utah. The loan was granted and they received $478,000 to help grow their Price, Utah business.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE TRANSMISSION REPAIR
PRICE, UT 84501

SBA Loan Lender

ZIONS FIRST NATIONAL BANK
2460 SOUTH 3270 WEST, SBA DEP
WEST VALLEY CITY, UT 84119

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811113 - Automotive Transmission Repair

Loan Approval Date

1/9/2001

Loan Approval Gross Amount

$478,000

Loan Approval from the SBA

Of the total $478,000 loan amount, the SBA guaranteed $358,500.

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 6 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 6 existing jobs.

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

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Zions First National Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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