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November 21, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Salt Lake City, Business Loans > Amer Express Centurion Bk Salt Lake City Business Loans > Office Furniture Manufacturing Loan | ||||
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Tips for Entrepreneurs On Getting a Loan
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Where to Get Capital for Office Furniture ManufacturingWith these small business loans for office furniture manufacturing, the SBA guarantees the lender that the loan will be repaid. This office furniture manufacturing loan for $25,000 was given to a Virginia entrepreneur in 2003. This company knew how to go about getting a business bank loan. Based in Springfield, Virginia, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Amer Express Centurion Bk, based in Salt Lake City, Utah. SBA Loan Borrower COMPANY TYPE: OFFICE FURNITURE MANUFACTURING SBA Loan Lender AMER EXPRESS CENTURION BK 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 337214 - Office Furniture Manufacturing Loan Approval Date 8/19/2003 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $12,500. More Information on This SBA Loan The borrower borrowed this money for an existing 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 7 employees. The loan application indicated that the loan would help generate 1 new job and retain 8 existing jobs. Getting an SBA Loan For Your Business Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. While you may be able to find business people willing to loan money, 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: Find an SBA Lender in Salt Lake City, Utah
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