Commercial Loans for Petroleum and Petroleum Products Wholesalers

With these commercial loans for petroleum and petroleum products wholesalers, the SBA guarantees the lender that the loan will be repaid. This petroleum and petroleum products wholesalers loan for $209,000 was given to an Utah entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Wendover, Utah was able to borrow $209,000 from Bank Of The West. The SBA made the loan possible by guaranteeing $156,750 of this Utah small business loan.

SBA Loan Borrower

COMPANY TYPE: PETROLEUM AND PETROLEUM PRODUCTS WHOLESALERS
WENDOVER, UT 84083

SBA Loan Lender

BANK OF THE WEST
142 EAST 200 SOUTH
SALT LAKE CITY, UT 84111

When this loan was made, this lending institution participated in the SBA's Certified Lenders Program (CLP). This program is designed to ensure quick 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

422720 - Petroleum and Petroleum Products Wholesalers

Loan Approval Date

2/1/2002

Loan Approval Gross Amount

$209,000

Loan Approval from the SBA

Of the total $209,000 loan amount, the SBA guaranteed $156,750.

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 4 employees. The loan application did not indicate that the company promised to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans provide money to small business owners for working capital for other expenses.

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.

Related Links:

Microlending as a Small Business Funding Source

Small Bank Loans in Salt Lake City, Utah

Utah SBA Banks