St. George, Utah Business Gets SBA-Guaranteed Funding from Americanwest Bank

Americanwest Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how an Utah entrepreneur was able to get a loan to take a small business to the next level.

This small firm 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 2002. The lending bank was Americanwest Bank, based in Provo, Utah.

SBA Loan Borrower

COMPANY TYPE: DURABLE GOODS WHOLESALERS
ST. GEORGE, UT 84770

SBA Loan Lender

AMERICANWEST BANK
201 E CENTER ST
PROVO, UT 84606

This SBA loan was issued under the SBA's Certified Lenders Program (CLP), which means that the lender has a successful SBA lending track record and a deep knowledge SBA policies and procedures.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

421990 - Durable Goods Wholesalers

Loan Approval Date

2/11/2002

Loan Approval Gross Amount

$385,000

Loan Approval from the SBA

Of the total $385,000 loan amount, the SBA guaranteed $288,750.

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

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

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

While you may be able to find other ways to get money to start a business, 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.

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