Vernal, Utah Business Gets SBA-Guaranteed Funding from First National Bank - Rockies

An SBA loan from First National Bank - Rockies typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Vernal, Utah business owner got a $1,004,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Vernal, Utah was able to borrow $1,004,000 from First National Bank - Rockies. The SBA made the loan possible by guaranteeing $753,000 of this Utah small business loan.

SBA Loan Borrower

COMPANY TYPE: HEAVY CONSTRUCTION
VERNAL, UT 84078

SBA Loan Lender

FIRST NATIONAL BANK - ROCKIES
222 W MAIN
RANGELY, CO 81648

This lender issued this SBA small business loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

234990 - Heavy Construction

Loan Approval Date

8/19/2004

Loan Approval Gross Amount

$1,004,000

Loan Approval from the SBA

Of the total $1,004,000 loan amount, the SBA guaranteed $753,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 12 employees. This SBA loan request did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

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

Many small businesses receive loans backed by the U.S. Small Business Administration.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from First National Bank - Rockies so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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