Business Loan from Bank Of Utah Given to Custom Computer Programming Services Company

An SBA loan from Bank Of Utah typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Providence, Utah business owner got a $418,300 loan.

Getting a small business loan in Providence, Utah was an essential business goal for this firm back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Bank Of Utah, operating out of Ogden, Utah. Here are the details on this Utah small business loan.

SBA Loan Borrower

COMPANY TYPE: CUSTOM COMPUTER PROGRAMMING SERVICES
PROVIDENCE, UT 84332

SBA Loan Lender

BANK OF UTAH
2605 WASHINGTON BLVD
OGDEN, UT 84401

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

541511 - Custom Computer Programming Services

Loan Approval Date

4/25/2003

Loan Approval Gross Amount

$418,300

Loan Approval from the SBA

Of the total $418,300 loan amount, the SBA guaranteed $313,725.

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 17 employees. This SBA loan request indicated that the loan would help generate 25 new jobs and retain 8 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.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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