Local Business Gets an Utah Bank Loan
UtahBusiness loans are available to Utah business owners through the SBA. In this case, an Utah bank provides the loan.
This small business, based in Provo, Utah, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Beehive Cu. We've got the inside scoop on this Utah small business loan.
SBA Loan Borrower
COMPANY TYPE: NONDURABLE GOODS MERCHANT WHOLESALERS
PROVO, UT 84604
SBA Loan Lender
BEEHIVE CU
1467 S MAIN ST
SALT LAKE CITY, UT 84115
This lender processed this business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.
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
424990 - Nondurable Goods Merchant Wholesalers
Loan Approval Date
7/31/2006
Loan Approval Gross Amount
$10,000
Loan Approval from the SBA
Of the total $10,000 loan amount, the SBA guaranteed $5,000.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company
had only one employee. The loan application indicated that the loan would help generate 3 new jobs and retain 1 existing job.
Great, But How Can I Get an SBA Loan for My Business?
Many small businesses receive loans backed by the U.S. Small Business Administration.
This SBA loan was for $10,000. How would you spend $10,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.
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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