Business Loan from State Bank Of Southern Utah Given to Construction And Mining Machinery And Equipment Merchant Company

State Bank Of Southern Utah is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Utah entrepreneur who tapped into the power of SBA loans.

This growing company knew how to go about getting a business bank loan. Based in St George, Utah, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was State Bank Of Southern Utah, based in Cedar City, Utah.

SBA Loan Borrower

COMPANY TYPE: CONSTRUCTION AND MINING MACHINERY AND EQUIPMENT MERCHANT
ST GEORGE, UT 84770

SBA Loan Lender

STATE BANK OF SOUTHERN UTAH
377 N MAIN ST
CEDAR CITY, UT 84720

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

423810 - Construction and Mining Machinery and Equipment Merchant

Loan Approval Date

2/2/2004

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

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 4 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you need business start up money in St George UT, you ought to talk with a local St George SBA lender or talk with an out-of-area SBA lender that has previously loaned money to St George businesses.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for 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:

How to Raise Money

Banks in Cedar City, Utah

SBA Utah Lenders