Utah SBA Loan Issued to Steel Foundries Company

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.

By giving the right information to Wells Fargo Bank, this Tooele, Utah business was able to get an SBA loan. To get this loan, the business owner gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: STEEL FOUNDRIES
TOOELE, UT 84074

SBA Loan Lender

WELLS FARGO BANK
299 S MAIN ST
SALT LAKE CITY, UT 84111

At the time this loan was granted, this bank was part of the SBA's Certified Lenders Program (CLP). This program aims to provide fast service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

331513 - Steel Foundries

Loan Approval Date

10/13/2004

Loan Approval Gross Amount

$1,463,600

Loan Approval from the SBA

Of the total $1,463,600 loan amount, the SBA guaranteed $999,928.

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 31 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees.

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

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 Tooele 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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