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November 21, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > Layton, Business Loans > America West Bank Layton Business Loans > Automotive Body, Paint, And Interior Repair And Maintenance Loan | ||||
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Utah Small Business Funding
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Automotive Body, Paint, and Interior Repair and Maintenance Small Business LoansLooking for small business loans for automotive body, paint, and interior repair and maintenance? Try the SBA. This $176,000 automotive body, paint, and interior repair and maintenance loan was issued by an Utah bank. This company knew how to go about getting a business bank loan. Based in Sandy, Utah, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was America West Bank, based in Layton, Utah. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE BODY, PAINT, AND INTERIOR REPAIR AND MAINTENANCE SBA Loan Lender AMERICA WEST BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide commercial loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811121 - Automotive Body, Paint, and Interior Repair and Maintenance Loan Approval Date 7/11/2001 Loan Approval Gross Amount $176,000 Loan Approval from the SBA Of the total $176,000 loan amount, the SBA guaranteed $132,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The loan application did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide money to small business owners for working capital for other expenses. 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: Realistic Debt Financing Options SBA 7A Banks for Layton, Utah Loans
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