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November 27, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > Riverdale, Business Loans > America First Fcu Riverdale Business Loans > Health And Personal Care Stores Loan | ||||
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Raising Money in Vernal, Utah With SBA Loans
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America First Fcu Gives Bank Loan to Health And Personal Care Stores CompanyBank loans in Utah are hard to find these days. We take a look at one Utah bank loan, provided by an Utah bank, that was approved by the SBA. Getting a small business loan in Vernal, Utah was a top priority for this loan applicant back in 2005 and, based on their loan application, they were successful in getting an SBA loan from America First Fcu. Here are the details on this Utah small business loan. SBA Loan Borrower COMPANY TYPE: HEALTH AND PERSONAL CARE STORES SBA Loan Lender AMERICA FIRST FCU This small business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 446199 - Health and Personal Care Stores Loan Approval Date 12/23/2005 Loan Approval Gross Amount $246,000 Loan Approval from the SBA Of the total $246,000 loan amount, the SBA guaranteed $184,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? 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. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into America First Fcu and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Find an SBA Lender in Riverdale, Utah
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