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November 21, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > Salt Lake City, Business Loans > Bank Of The West Salt Lake City Business Loans > Employment Agencies Loan | ||||
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SBA Lender Salt Lake City, Utah
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Salt Lake City, Utah Bank Lends Money to Employment Agencies Company in Salt Lake City, UtahGet SBA loans from a Salt Lake City, Utah bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too. Bank Of The West is a Salt Lake City, Utah small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to an Utah company. SBA Loan Borrower COMPANY TYPE: EMPLOYMENT AGENCIES SBA Loan Lender BANK OF THE WEST This lender provides SBA guaranteed bank 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. SIC Code 7361 - Employment Agencies NAICS Code Loan Approval Date 3/29/2000 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $112,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 11 employees. This SBA loan request indicated that the loan would help generate 300 new jobs and retain 11 existing jobs. Great, But How Can I Get an SBA Loan for My 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. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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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