Salt Lake City, Utah Bank Gives SBA Loan to Confectionery Company

Find Salt Lake City, Utah banks that specialize in small business loans and know how to work with entrepreneurs. Merrill Lynch Bank Usa is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Sylmar, California starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Merrill Lynch Bank Usa. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: CONFECTIONERY
SYLMAR, CA 91342

SBA Loan Lender

MERRILL LYNCH BANK USA
15 W SOUTH TEMPLE, STE 300
SALT LAKE CITY, UT 84101

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5145 - Confectionery

NAICS Code

422450 - Confectionery Wholesalers

Loan Approval Date

3/1/2000

Loan Approval Gross Amount

$631,000

Loan Approval from the SBA

Of the total $631,000 loan amount, the SBA guaranteed $473,250.

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 33 employees. The SBA loan documents indicated that the loan would help generate 33 new jobs and retain 33 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

We can help you find the best banks for small businesses in Sylmar or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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