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December 22, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > Provo, Business Loans > Capital Community Bank Provo Business Loans > Paint And Coating Manufacturing Loan | ||||
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Provo, Utah Bank Loan
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Paint and Coating Manufacturing SBA LoansWith these SBA loans for paint and coating manufacturing, the SBA guarantees the lender that the loan will be repaid. This paint and coating manufacturing loan for $300,000 was given to an Utah entrepreneur in 2002. This small business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Capital Community Bank, out of Provo, Utah. The loan was granted and they received $300,000 to help grow their Provo, Utah business. SBA Loan Borrower COMPANY TYPE: PAINT AND COATING MANUFACTURING SBA Loan Lender CAPITAL COMMUNITY BANK This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 325510 - Paint and Coating Manufacturing Loan Approval Date 4/2/2002 Loan Approval Gross Amount $300,000 Loan Approval from the SBA Of the total $300,000 loan amount, the SBA guaranteed $225,000. More Information on This SBA Loan The borrower borrowed this money for a new 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 documents did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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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