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December 19, 2024 |
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| Home > Small Business Lenders by State > Georgia Business Loan Sources > Salt Lake City, Business Loans > Magnet Bank Salt Lake City Business Loans > Limited-Service Restaurants Loan | ||||
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Salt Lake City SBA Lenders
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Salt Lake City, Utah Bank Gives SBA Loan to Limited-Service Restaurants CompanyWant to talk with a Salt Lake City, Utah bank about a business loan? Here's one Georgia business loan, issued by a Salt Lake City bank, that was approved by the SBA. Applying for an SBA loan with Magnet Bank worked out well for our friends at one local firm in Sandy Springs, Georgia. They got an SBA loan for $312,000. Sweet! SBA Loan Borrower COMPANY TYPE: LIMITED-SERVICE RESTAURANTS SBA Loan Lender MAGNET BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 12/6/2007 Loan Approval Gross Amount $312,000 Loan Approval from the SBA Of the total $312,000 loan amount, the SBA guaranteed $234,000. 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 6 employees. The loan application indicated that the loan would help generate 5 new jobs and retain 1 existing job. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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 $312,000 loan. Remember, if it to be, it is up to me! 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: SBA 7A Banks in Salt Lake City, Utah
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