Salt Lake City, Utah Bank Lends Money to Corn Farming Company in Vernal, Utah

Thinking about meeting with a Salt Lake City, Utah bank about a small business loan? Here's one Utah business loan, issued by a Salt Lake City bank, that was approved by the SBA.

Applying for an SBA loan with Mountain America Fcu worked out well for our friends at one local company in Vernal, Utah. They got an SBA loan for $25,000. Way to go!

SBA Loan Borrower

COMPANY TYPE: CORN FARMING
VERNAL, UT 84078

SBA Loan Lender

MOUNTAIN AMERICA FCU
660 S 200 EAST
SALT LAKE CITY, UT 84111

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

111150 - Corn Farming

Loan Approval Date

3/15/2007

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $12,500.

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 only one employee. The loan application indicated that the loan would help generate 450 new jobs.

Next Steps for Getting an SBA Loan

If you need money to start a small business or need money to grow a business, an SBA loan can be a great source of funding.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Obtaining Funding - How to Borrow Money

SBA Participating Banks in Salt Lake City, Utah

SBA Lenders in Utah