Borrowing Money for Lawyers

Looking for loans for lawyers? Talk to a banker who works with the SBA. This $60,000 lawyers loan was issued by an Utah bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in South Jordan, Utah was able to borrow $60,000 from Bank Of American Fork. The SBA made the loan possible by guaranteeing $30,000 of this Utah small business loan.

SBA Loan Borrower

COMPANY TYPE: LAWYERS
SOUTH JORDAN, UT 84095

SBA Loan Lender

BANK OF AMERICAN FORK
33 E MAIN
AMERICAN FORK, UT 84003

This lender processed this bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

541110 - Lawyers

Loan Approval Date

11/28/2003

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $30,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 2 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bank Of American Fork had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bank Of American Fork made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Angel Investors

Banks in American Fork, Utah

Getting a Business Loan in Utah