Worland, Wyoming Entrepreneur Gets a Small Business Loan

SBA loans in Wyoming are are few and far betweeen these days. We take a look at one Wyoming SBA loan, provided by a Wyoming bank, that was approved by the SBA.

You can learn something about getting a small business loan in Worland, Wyoming by studying this loan to a local business, made back in 2007. Banks like Pinnacle Bank-Wyoming may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: PHYSICIANS
WORLAND, WY 82401

SBA Loan Lender

PINNACLE BANK-WYOMING
2000 MAIN ST
TORRINGTON, WY 82240

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

621111 - Physicians

Loan Approval Date

9/12/2007

Loan Approval Gross Amount

$68,100

Loan Approval from the SBA

Of the total $68,100 loan amount, the SBA guaranteed $34,050.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the funding would help generate 2 new jobs.

Start the Process for Getting an SBA Loan Today!

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.

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.

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