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November 14, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > Provo, Business Loans > Americanwest Bank Provo Business Loans > New Multifamily Housing Construction Loan | ||||
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Americanwest Bank Small Business Provo, UT
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Americanwest Bank SBA Loan to New Multifamily Housing Construction CompanyAmericanwest 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 Provo, Utah was able to borrow $250,000 from Americanwest Bank. The SBA made the loan possible by guaranteeing $125,000 of this Utah small business loan. SBA Loan Borrower COMPANY TYPE: NEW MULTIFAMILY HOUSING CONSTRUCTION SBA Loan Lender AMERICANWEST BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 236116 - New Multifamily Housing Construction Loan Approval Date 11/7/2003 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $125,000. 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 7 employees. The SBA loan documents indicated that the loan would help retain 7 existing jobs. Next Steps for Getting an SBA Loan SBA loans provide smart, affordable business financing for small businesses looking to expand. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Americanwest Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Americanwest 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:
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