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November 23, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > Burley, Business Loans > D. L. Evans Bank Burley Business Loans > Independent Artists, Writers, And Performers Loan | ||||
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Burley Bank Loan
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Burley, Idaho Bank Gives SBA Loan to Independent Artists, Writers, And Performers CompanyFind Burley, Idaho banks that specialize in SBA loans and know how to work with entrepreneurs. D. L. Evans Bank is one such bank, as evidenced by this SBA loan to one business. Finding a small business loan in Sandy, Utah starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from D. L. Evans Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: INDEPENDENT ARTISTS, WRITERS, AND PERFORMERS SBA Loan Lender D. L. EVANS BANK 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 711510 - Independent Artists, Writers, and Performers Loan Approval Date 6/14/2006 Loan Approval Gross Amount $258,800 Loan Approval from the SBA Of the total $258,800 loan amount, the SBA guaranteed $129,400. 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. The SBA loan application for the borrower indicated that the loan would help retain 4 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. 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: SBA Participating Banks in Burley, Idaho SBA Participating Banks in Idaho
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