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November 24, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > Provo, Business Loans > Americanwest Bank Provo Business Loans > Child And Youth Services Loan | ||||
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Banks Doing SBA Loans in Utah
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Entrepreneur Works With Provo, Utah Bank to Get an SBA LoanWant to talk with a Provo, Utah bank about a small business loan? Here's one Utah business loan, issued by a Provo bank, that was approved by the SBA. Applying for an SBA loan with Americanwest Bank worked out well for our friends at one local firm in Salt Lake City, Utah. They got an SBA loan for $408,000. Awesome! SBA Loan Borrower COMPANY TYPE: CHILD AND YOUTH SERVICES SBA Loan Lender AMERICANWEST BANK This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 624110 - Child and Youth Services Loan Approval Date 7/8/2004 Loan Approval Gross Amount $408,000 Loan Approval from the SBA Of the total $408,000 loan amount, the SBA guaranteed $306,000. 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 21 employees. The SBA loan application for the borrower indicated that the loan would help retain 21 existing jobs. Next Steps for Getting an SBA Loan SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. 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 Americanwest 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: Advice on Getting a Small Business Loan Browse All Business Loan Sources for Utah
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