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November 14, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > Layton, Business Loans > America West Bank Layton Business Loans > Motor Vehicle Dealers Loan | ||||
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Business Loans for West Point Small Business Owners
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Used Car Dealers SBA LoansWith these SBA loans for used car dealers, the SBA guarantees the lender that the loan will be repaid. This used car dealers loan for $31,500 was given to an Utah entrepreneur in 2001. This small business knew how to go about getting a business bank loan. Based in West Point, Utah, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was America West Bank, based in Layton, Utah. SBA Loan Borrower COMPANY TYPE: MOTOR VEHICLE DEALERS SBA Loan Lender AMERICA WEST BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5511 - Motor Vehicle Dealers NAICS Code 441120 - Used Car Dealers Loan Approval Date 2/9/2001 Loan Approval Gross Amount $31,500 Loan Approval from the SBA Of the total $31,500 loan amount, the SBA guaranteed $26,775. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the company promised to use the money to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans provide money to small business owners for working capital for other expenses. This SBA loan was for $31,500. How would you spend $31,500 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Family and Friend Investors - Your First Financiers Best Banks for Small Business in Layton, Utah
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