SBA Loans for Machine Shops

With these SBA loans for machine shops, the SBA guarantees the lender that the loan will be repaid. This machine shops loan for $150,000 was given to an Utah entrepreneur in 2007.

This business knew how to go about getting a business bank loan. Based in Richfield, Utah, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Webbank, based in Salt Lake City, Utah.

SBA Loan Borrower

COMPANY TYPE: MACHINE SHOPS
RICHFIELD, UT 84701

SBA Loan Lender

WEBBANK
6440 S WASATCH BLVD, STE 300
SALT LAKE CITY, UT 84121

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

332710 - Machine Shops

Loan Approval Date

12/19/2007

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 18 employees. This SBA loan request indicated that the loan would help retain 18 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you are wondering how to raise money for a business in Richfield UT, you ought to talk with a local Richfield SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Richfield businesses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $150,000 loan. Remember, if it to be, it is up to me!

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:

How to Raise Money

SBA Banks in Salt Lake City, Utah

SBA Utah Banks