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May 8, 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 > Retail Stores Loan | ||||
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State Bank Of Southern Utah Business Loans Clearfield, UT
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Clearfield, Utah Business Gets SBA-Guaranteed Funding from State Bank Of Southern UtahState Bank Of Southern Utah is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Utah entrepreneur who tapped into the power of SBA loans. Getting a small business loan in Clearfield, Utah was an essential business goal for this company back in 2000 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: RETAIL STORES SBA Loan Lender STATE BANK OF SOUTHERN UTAH This was a Low Documentation SBA loan. The SBA started 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. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5999 - Retail Stores Loan Approval Date 1/26/2000 Loan Approval Gross Amount $12,000 Loan Approval from the SBA Of the total $12,000 loan amount, the SBA guaranteed $9,600. 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 only one employee. The loan application did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. We can help you find the best banks for small businesses in Clearfield or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Small Bank Loans in Cedar City, Utah
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