Company Gets an Utah Business Loan

Would an Utah SBA loan help your business get to the next level? If so, you may want to talk with this Utah bank, which offers SBA loans to Utah entrepreneurs.

Getting a small business loan in Salt Lake City, Utah was a top priority for this particular business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Celtic Bank Corporation. Here are the details on this Utah small business loan.

SBA Loan Borrower

COMPANY TYPE: OFFICE SUPPLIES AND STATIONERY
SALT LAKE CITY, UT 84101

SBA Loan Lender

CELTIC BANK CORPORATION
340 E 400
SALT LAKE CITY, UT 84111

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453210 - Office Supplies and Stationery

Loan Approval Date

12/12/2001

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

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 4 employees. The loan application did not indicate that the company planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Obtaining Funding - Friends and Family

Good Banks for Small Business in Salt Lake City, Utah

Utah SBA Bank Lenders