Raising Money for Schools and Instruction
With these bank loans for schools and instruction, the SBA guarantees the lender that the loan will be repaid. This schools and instruction loan for $150,000 was given to an Utah entrepreneur in 2000.
This company knew how to go about getting a business bank loan. Based in Provo, Utah, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Americanwest Bank, based in Provo, Utah.
SBA Loan Borrower
COMPANY TYPE: SCHOOLS AND EDUCATIONAL SERVICES
PROVO, UT 84601
SBA Loan Lender
AMERICANWEST BANK
201 E CENTER ST
PROVO, UT 84606
This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
8299 - Schools and Educational Services
NAICS Code
611699 - Schools and Instruction
Loan Approval Date
2/25/2000
Loan Approval Gross Amount
$150,000
Loan Approval from the SBA
Of the total $150,000 loan amount, the SBA guaranteed $112,500.
More Information on This SBA Loan
The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 47 employees. The loan application did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.
We can help you find the best banks for small businesses in Provo or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.
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:
Obtaining Funding From a Venture Capitalist
SBA Banks in Provo, Utah
Utah SBA Bank Lenders