Riverdale, Utah Bank Gives SBA Loan to Home Furnishings Stores Company

A Riverdale, Utah small business loan can be yours. Learn how one firm got a $87,700 business loan from this Utah bank.

This loan to an entrepreneur is a good example of an SBA loan. America First Fcu made the loan and the SBA guaranteed a portion of the loan. Many other Utah entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

COMPANY TYPE: HOME FURNISHINGS STORES
ROY, UT 84067

SBA Loan Lender

AMERICA FIRST FCU
1344 WEST 4675 SOUTH
RIVERDALE, UT 84405

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

442299 - Home Furnishings Stores

Loan Approval Date

8/24/2004

Loan Approval Gross Amount

$87,700

Loan Approval from the SBA

Of the total $87,700 loan amount, the SBA guaranteed $74,545.

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 2 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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 $87,700 loan. Remember, things become real when you believe you can achieve them!

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.

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