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December 22, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > Sandy, Business Loans > First Utah Bank Sandy Business Loans > Plastics Products Loan | ||||
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Utah Bank SBA Loans
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First Utah Bank SBA Loan to Plastics Products CompanyLooking to get an Utah small business loan? Here's one Utah business loan that was approved by the SBA. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Salt Lake City, Utah was able to borrow $140,000 from First Utah Bank. The SBA made the loan possible by guaranteeing $105,000 of this Utah small business loan. SBA Loan Borrower COMPANY TYPE: PLASTICS PRODUCTS SBA Loan Lender FIRST UTAH BANK This lender issued this particular debt financing under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3089 - Plastics Products Loan Approval Date 7/17/2000 Loan Approval Gross Amount $140,000 Loan Approval from the SBA Of the total $140,000 loan amount, the SBA guaranteed $105,000. 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 11 employees. The loan application did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan Many small businesses receive loans backed by the U.S. Small Business Administration. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First Utah Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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 - How to Borrow Money Small Bank Loans in Sandy, Utah
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