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May 5, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > Cedar City, Business Loans > State Bank Of Southern Utah Cedar City Business Loans > Variety Stores Loan | ||||
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State Bank Of Southern Utah Small Business Cedar City, Utah
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Cedar City, Utah Business Gets SBA-Guaranteed Funding from State Bank Of Southern UtahAn SBA loan from State Bank Of Southern Utah typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Cedar City, Utah business owner got a $36,000 loan. Getting a small business loan in Cedar City, Utah was an essential business goal for this firm back in 2001 and, based on their loan application, they were successful in getting an SBA loan from State Bank Of Southern Utah, operating out of Cedar City, Utah. Here are the details on this Utah small business loan. SBA Loan Borrower COMPANY TYPE: VARIETY STORES SBA Loan Lender STATE BANK OF SOUTHERN UTAH This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5331 - Variety Stores NAICS Code 452990 - General Merchandise Stores Loan Approval Date 3/6/2001 Loan Approval Gross Amount $36,000 Loan Approval from the SBA Of the total $36,000 loan amount, the SBA guaranteed $30,600. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The loan application did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! Don't forget. To get an SBA loan, you must 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. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. State Bank Of Southern Utah had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, State Bank Of Southern Utah made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: SBA Participating Banks in Cedar City, Utah
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