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November 21, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > Layton, Business Loans > 1st National Bank - Layton Layton Business Loans > Hotels And Motels Loan | ||||
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1st National Bank - Layton
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SBA Loan from 1st National Bank - Layton Helps Hotels And Motels Company1st National Bank - Layton is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Utah entrepreneur who tapped into the power of SBA loans. This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with 1st National Bank - Layton, out of Layton, Utah. The loan was granted and they received $490,000 to help grow their Provo, Utah business. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender 1ST NATIONAL BANK - LAYTON 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 721110 - Hotels and Motels Loan Approval Date 1/30/2004 Loan Approval Gross Amount $490,000 Loan Approval from the SBA Of the total $490,000 loan amount, the SBA guaranteed $367,500. 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 4 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 4 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loans provide smart, affordable business financing for small businesses looking to expand. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like 1st National Bank - Layton and they will explain how you can get an SBA loan for your company. 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:
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