Commercial Loans for Lawyers

With these commercial loans for lawyers, the SBA guarantees the lender that the loan will be repaid. This lawyers loan for $270,000 was given to an Utah entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Salt Lake City, Utah was able to borrow $270,000 from Washington Mutual Bank. The SBA made the loan possible by guaranteeing $202,500 of this Utah small business loan.

SBA Loan Borrower

COMPANY TYPE: LAWYERS
SALT LAKE CITY, UT 84104

SBA Loan Lender

WASHINGTON MUTUAL BANK
601 CRATER LAKE AVE
MEDFORD, OR 97504

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

541110 - Lawyers

Loan Approval Date

5/9/2003

Loan Approval Gross Amount

$270,000

Loan Approval from the SBA

Of the total $270,000 loan amount, the SBA guaranteed $202,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 only one employee. The SBA loan application for the borrower indicated that the loan would help create 3 new jobs.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a company in Salt Lake City UT, you ought to talk with a local Salt Lake City SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Salt Lake City businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Washington Mutual Bank and they will explain how you can get an SBA loan for your company.

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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