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December 22, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > American Fork, Business Loans > Bank Of American Fork American Fork Business Loans > Construction Machinery Manufacturing Loan | ||||
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Who Can Get a Business Loan in Riverton, Utah?
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Financing for Construction Machinery ManufacturingLooking for commercial loans for construction machinery manufacturing? The SBA may be the answer. This $200,000 construction machinery manufacturing loan was issued by an Utah bank. This business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Bank Of American Fork, out of American Fork, Utah. The loan was granted and they received $200,000 to help grow their Riverton, Utah business. SBA Loan Borrower COMPANY TYPE: CONSTRUCTION MACHINERY MANUFACTURING SBA Loan Lender BANK OF AMERICAN FORK The lender provided this debt financing 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 333120 - Construction Machinery Manufacturing Loan Approval Date 4/10/2003 Loan Approval Gross Amount $200,000 Loan Approval from the SBA Of the total $200,000 loan amount, the SBA guaranteed $100,000. More Information on This SBA Loan The borrower borrowed this money for an existing 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 retain 6 existing jobs. 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. 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 Bank Of American Fork 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: Family and Friend Investors - Your First Financiers SBA 7A Banks for American Fork, Utah Loans
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