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November 21, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > Cincinnati, Business Loans > U.S. Bank National Association Cincinnati Business Loans > Unsupported Plastics Profile Shapes Manufacturing Loan | ||||
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Salt Lake City, Utah Bank for SBA Loans
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Local Business Gets an Utah Business LoanUtahBusiness loans are available to Utah business owners through the SBA. In this case, an Ohio bank provides the loan. Getting a small business loan in Salt Lake City, Utah was a top priority for this SBA-financed company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from U.S. Bank National Association. Here are the details on this Utah small business loan. SBA Loan Borrower COMPANY TYPE: UNSUPPORTED PLASTICS PROFILE SHAPES MANUFACTURING SBA Loan Lender U.S. BANK NATIONAL ASSOCIATION As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 326121 - Unsupported Plastics Profile Shapes Manufacturing Loan Approval Date 12/21/2000 Loan Approval Gross Amount $955,000 Loan Approval from the SBA Of the total $955,000 loan amount, the SBA guaranteed $716,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 15 employees. This SBA loan request indicated that the loan would help generate 7 new jobs and retain 8 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Many small businesses receive loans backed by the U.S. Small Business Administration. 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: Obtaining Funding - How to Borrow Money SBA 7A Banks for Cincinnati, Ohio Loans
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