Manufacturing Business Loans

With these business loans for manufacturing, the SBA guarantees the lender that the loan will be repaid. This manufacturing loan for $150,000 was given to an Utah entrepreneur in 2000.

This business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with The Village Bank, out of Saint George, Utah. The loan was granted and they received $150,000 to help grow their St. George, Utah business.

SBA Loan Borrower

COMPANY TYPE: FOOD PREPARATIONS
ST. GEORGE, UT 84770

SBA Loan Lender

THE VILLAGE BANK
294 E TABERNACLE
SAINT GEORGE, UT 84770

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2099 - Food Preparations

NAICS Code

339999 - Manufacturing

Loan Approval Date

11/15/2000

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $112,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees.

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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. The Village Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, The Village Bank 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:

Understanding Dilution

SBA Approved Banks in Saint George, Utah

Utah SBA Banks