1st National Bank - Layton SBA Loan to Hardware Wholesalers Company

1st National Bank - Layton has a track record as a leading provider of SBA loans. Find out how this Utah entrepreneur received an SBA loan from them.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Salt Lake City, Utah was able to borrow $1,468,000 from 1st National Bank - Layton. The SBA made the loan possible by guaranteeing $998,240 of this Utah small business loan.

SBA Loan Borrower

COMPANY TYPE: HARDWARE WHOLESALERS
SALT LAKE CITY, UT 84119

SBA Loan Lender

1ST NATIONAL BANK - LAYTON
12 S MAIN ST
LAYTON, UT 84041

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

421710 - Hardware Wholesalers

Loan Approval Date

2/8/2002

Loan Approval Gross Amount

$1,468,000

Loan Approval from the SBA

Of the total $1,468,000 loan amount, the SBA guaranteed $998,240.

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 37 employees. The loan application indicated that the loan would help retain 37 existing jobs.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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