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November 15, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > Salt Lake City, Business Loans > Webbank Salt Lake City Business Loans > Commercial Equipment Merchant Wholesalers Loan | ||||
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Salt Lake City, Utah Bank for SBA Loans
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Commercial Equipment Merchant Wholesalers Small Business LoansWith these small business loans for commercial equipment merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This commercial equipment merchant wholesalers loan for $265,000 was given to an Utah entrepreneur in 2006. This small firm received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Webbank, out of Salt Lake City, Utah. The loan was granted and they received $265,000 to help grow their Salt Lake City, Utah business. SBA Loan Borrower COMPANY TYPE: COMMERCIAL EQUIPMENT MERCHANT WHOLESALERS SBA Loan Lender WEBBANK This lender issued this loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 423440 - Commercial Equipment Merchant Wholesalers Loan Approval Date 6/9/2006 Loan Approval Gross Amount $265,000 Loan Approval from the SBA Of the total $265,000 loan amount, the SBA guaranteed $198,750. 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 14 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $265,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Small Bank Loans in Salt Lake City, Utah
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