Raising Money for Dental Laboratories

With these business loans for dental laboratories, the SBA guarantees the lender that the loan will be repaid. This dental laboratories loan for $50,000 was given to an Utah entrepreneur in 2007.

Getting a small business loan in Taylorsville, Utah was important for this small business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Zions First National Bank, operating out of Salt Lake City, Utah. Here are the details on this Utah small business loan.

SBA Loan Borrower

COMPANY TYPE: DENTAL LABORATORIES
TAYLORSVILLE, UT 84118

SBA Loan Lender

ZIONS FIRST NATIONAL BANK
1 S MAIN ST
SALT LAKE CITY, UT 84111

This lender processed this commercial loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

339116 - Dental Laboratories

Loan Approval Date

9/1/2007

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

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 2 employees. The loan application indicated that the loan would help retain 2 existing jobs.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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.

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