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May 3, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > Windsor, Business Loans > Ups Capital Business Credit Windsor Business Loans > Building Material Dealers Loan | ||||
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Banks for Cedar City Entrepreneurs
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Cedar City, Utah Entrepreneur Gets an SBA LoanUtahBank loans are available to Utah firms through the SBA. In this case, a Connecticut bank provides the loan. This small business, based in Cedar City, Utah, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Ups Capital Business Credit. We've got the inside scoop on this Utah small business loan. SBA Loan Borrower COMPANY TYPE: BUILDING MATERIAL DEALERS SBA Loan Lender UPS CAPITAL BUSINESS CREDIT This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 444190 - Building Material Dealers Loan Approval Date 1/11/2006 Loan Approval Gross Amount $637,000 Loan Approval from the SBA Of the total $637,000 loan amount, the SBA guaranteed $477,750. 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 10 employees. The loan application indicated that the loan would help retain 10 existing jobs. Great, But How Can I Get an SBA Loan for My Business? If you need business start up money in Cedar City UT, you ought to talk with a local Cedar City SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Cedar City businesses. 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: Raising VC Money for Social Networking Companies SBA Participating Banks in Windsor, Connecticut
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