Sandy, Utah Business Gets SBA-Guaranteed Funding from First Utah Bank

An SBA loan from First Utah Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Sandy, Utah business owner got a $40,000 loan.

Getting a small business loan in Sandy, Utah was an essential business goal for this company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from First Utah Bank, operating out of Salt Lake City, Utah. Here are the details on this Utah small business loan.

SBA Loan Borrower

COMPANY TYPE: SPECIALTY TRADE CONTRACTORS
SANDY, UT 84093

SBA Loan Lender

FIRST UTAH BANK
3826 S 2300 EAST
SALT LAKE CITY, UT 84109

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

238990 - Specialty Trade Contractors

Loan Approval Date

2/1/2007

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $20,000.

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. This SBA loan request indicated that the loan would help retain 1 existing job.

Next Steps for Getting an SBA Loan

If you need money to start a small business or need money for an existing business, an SBA loan can be a great funding source

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $40,000 loan. Remember, anyone can do it... so why not you?

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:

Direct Public Offerings

SBA Approved Banks in Salt Lake City, Utah

SBA Lenders in Utah