Entrepreneur Works With Layton, Utah Bank to Get an SBA Loan

Get small business loans from a Layton, Utah bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too.

America West Bank is a Layton, Utah small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to an Utah company.

SBA Loan Borrower

COMPANY TYPE: STORE RETAILERS
WEST JORDAN, UT 84088

SBA Loan Lender

AMERICA WEST BANK
476 W HERITAGE PARK BLVD, STE
LAYTON, UT 84041

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453998 - Store Retailers

Loan Approval Date

6/21/2007

Loan Approval Gross Amount

$331,200

Loan Approval from the SBA

Of the total $331,200 loan amount, the SBA guaranteed $248,400.

More Information on This SBA Loan

The borrower borrowed this money for a new 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. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 2 existing jobs.

Getting an SBA Loan For Your Business

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

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 West Bank 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:

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SBA 7A Lenders in Layton, Utah

SBA Utah Banks