St. George, Utah Entrepreneur Gets a Business Loan

Want an Utah business loan? This Utah entrepreneur got a business loan, provided by an Utah bank that works with the SBA to help small business owners.

Getting a small business loan in St. George, Utah was a top priority for this SBA-financed company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from The Village Bank. Here are the details on this Utah small business loan.

SBA Loan Borrower

COMPANY TYPE: TESTING LABORATORIES
ST. GEORGE, UT 84770

SBA Loan Lender

THE VILLAGE BANK
294 E TABERNACLE
SAINT GEORGE, UT 84770

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541380 - Testing Laboratories

Loan Approval Date

12/5/2001

Loan Approval Gross Amount

$65,000

Loan Approval from the SBA

Of the total $65,000 loan amount, the SBA guaranteed $55,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

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

If you have been wondering how do i get money to start a business 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.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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 Start-Up Capital

Best Banks in Saint George, Utah

Utah SBA Bank Lenders