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November 15, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > Cedar City, Business Loans > State Bank Of Southern Utah Cedar City Business Loans > Personal Services Loan | ||||
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Raising Money in St. George, Utah With SBA Loans
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Personal Services Commercial LoansLooking for commercial loans for personal services? The SBA may be the answer. This $35,300 personal services loan was issued by an Utah bank. This business knew how to go about getting a business bank loan. Based in St. George, Utah, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was State Bank Of Southern Utah, based in Cedar City, Utah. SBA Loan Borrower COMPANY TYPE: PERSONAL SERVICES SBA Loan Lender STATE BANK OF SOUTHERN UTAH 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 812990 - Personal Services Loan Approval Date 4/7/2006 Loan Approval Gross Amount $35,300 Loan Approval from the SBA Of the total $35,300 loan amount, the SBA guaranteed $17,650. 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 only one employee. The SBA loan application for the borrower indicated that the loan would help retain 1 existing job. Great, But How Can I Get an SBA Loan for My Business? Although it's called an SBA loan, you 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. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like State Bank Of Southern Utah that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Small Bank Loans in Cedar City, Utah
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