Growing Company Gets an Utah Small Business Loan
Bank loans in Utah are are few and far betweeen these days. We take a look at one Utah bank loan, provided by an Utah bank, that was approved by the SBA.
You can learn something about getting a small business loan in Santa Clara, Utah by studying this loan to a local company, made back in 2004. Banks like Zions First National Bank may also be willing to lend to you, given that they granted this small business loan.
SBA Loan Borrower
COMPANY TYPE: HOME FURNISHING MERCHANT WHOLESALERS
SANTA CLARA, UT 84765
SBA Loan Lender
ZIONS FIRST NATIONAL BANK
2460 SOUTH 3270 WEST, SBA DEP
WEST VALLEY CITY, UT 84119
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
423220 - Home Furnishing Merchant Wholesalers
Loan Approval Date
9/21/2004
Loan Approval Gross Amount
$10,000
Loan Approval from the SBA
Of the total $10,000 loan amount, the SBA guaranteed $5,000.
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 SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees.
Getting an SBA Loan For Your Business
SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.
While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.
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 From a Venture Capitalist
Banks in West Valley City, Utah
SBA Lenders in Utah