Tooele, Utah Entrepreneur Gets a Bank Loan

Would an Utah business loan help your company expand? If so, you may want to talk with this Utah bank, which offers SBA loans to Utah entrepreneurs.

You can learn something about getting a small business loan in Tooele, Utah by studying this loan to a local business, made back in 2007. Banks like Tooele Fcu may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: JEWELRY STORES
TOOELE, UT 84074

SBA Loan Lender

TOOELE FCU
562 N MAIN ST
TOOELE, UT 84074

This loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

448310 - Jewelry Stores

Loan Approval Date

1/11/2007

Loan Approval Gross Amount

$15,000

Loan Approval from the SBA

Of the total $15,000 loan amount, the SBA guaranteed $7,500.

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

Getting an SBA Loan For Your Business

If you are working on finding money to start a business in Tooele UT, you ought to talk with a local Tooele SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Tooele 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.

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