Raising Money for Commercial and Institutional Building Construction
Looking for bank loans for commercial and institutional building construction? The SBA may be the answer. This $130,000 commercial and institutional building construction loan was issued by an Utah bank.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Rexburg, Idaho was able to borrow $130,000 from Zions First National Bank. The SBA made the loan possible by guaranteeing $65,000 of this Idaho small business loan.
SBA Loan Borrower
COMPANY TYPE: COMMERCIAL AND INSTITUTIONAL BUILDING CONSTRUCTION
REXBURG, ID 83440
SBA Loan Lender
ZIONS FIRST NATIONAL BANK
2460 SOUTH 3270 WEST, SBA DEP
WEST VALLEY CITY, UT 84119
The lender provided this loan for a small business through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.
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
233320 - Commercial and Institutional Building Construction
Loan Approval Date
3/5/2002
Loan Approval Gross Amount
$130,000
Loan Approval from the SBA
Of the total $130,000 loan amount, the SBA guaranteed $65,000.
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 6 employees. The loan application indicated that the loan would help generate 10 new jobs and retain 16 existing jobs.
Start the Process for Getting an SBA Loan Today!
SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.
SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Zions First National Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!
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:
Alternative Financing
Small Business Banks in West Valley City, Utah
SBA Utah Lenders