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April 29, 2024 |
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| Home > Small Business Lenders by State > Wyoming Business Loan Sources > Salt Lake City, Business Loans > Webbank Salt Lake City Business Loans > Highway, Street, And Bridge Construction Loan | ||||
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SBA Loans from Webbank
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Business Loan from Webbank Given to Highway, Street, And Bridge Construction CompanyWebbank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Wyoming entrepreneur was able to get a loan to take a small business to the next level. Getting a small business loan in Gillette, Wyoming was an essential business goal for this company back in 2008 and, based on their loan application, they were successful in getting an SBA loan from Webbank, operating out of Salt Lake City, Utah. Here are the details on this Wyoming small business loan. SBA Loan Borrower COMPANY TYPE: HIGHWAY, STREET, AND BRIDGE CONSTRUCTION SBA Loan Lender WEBBANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 237310 - Highway, Street, and Bridge Construction Loan Approval Date 2/14/2008 Loan Approval Gross Amount $709,500 Loan Approval from the SBA Of the total $709,500 loan amount, the SBA guaranteed $532,125. 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 70 employees. The loan application indicated that the loan would help generate 5 new jobs and retain 70 existing jobs. Start the Process for Getting an SBA Loan Today! SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. 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: Who Lends Money to Small Businesses in Salt Lake City, Utah
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