SBA Loan from 1st Centennial Bank Helps Building Material Dealers Company

1st Centennial Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Utah entrepreneur who tapped into the power of SBA loans.

Getting a small business loan in Salt Lake City, Utah was an essential business goal for this company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from 1st Centennial Bank, operating out of Redlands, California. Here are the details on this Utah small business loan.

SBA Loan Borrower

COMPANY TYPE: BUILDING MATERIAL DEALERS
SALT LAKE CITY, UT 84116

SBA Loan Lender

1ST CENTENNIAL BANK
218 E STATE ST
REDLANDS, CA 92373

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

444190 - Building Material Dealers

Loan Approval Date

9/5/2003

Loan Approval Gross Amount

$1,220,000

Loan Approval from the SBA

Of the total $1,220,000 loan amount, the SBA guaranteed $915,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 15 employees. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 15 existing jobs.

Start the Process for Getting an SBA Loan Today!

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

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

Realistic Debt Financing Options

Banks in Redlands, California

SBA Lenders in California