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April 28, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > Salt Lake City, Business Loans > Deseret First Fcu Salt Lake City Business Loans > Hobby, Toy, And Game Stores Loan | ||||
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SBA Lender Logan Utah
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Deseret First Fcu Gives SBA Loan to Hobby, Toy, And Game Stores CompanyUtahBank loans are available to Utah firms through the SBA. In this case, an Utah bank provides the loan. This business, based in Logan, 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 Deseret First Fcu. We've got the inside scoop on this Utah small business loan. SBA Loan Borrower COMPANY TYPE: HOBBY, TOY, AND GAME STORES SBA Loan Lender DESERET FIRST FCU 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 451120 - Hobby, Toy, and Game Stores Loan Approval Date 9/10/2007 Loan Approval Gross Amount $40,000 Loan Approval from the SBA Of the total $40,000 loan amount, the SBA guaranteed $20,000. 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 6 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 6 existing jobs. Next Steps for Getting an SBA Loan If you have been wondering how do i get money to start a business in Logan UT, you ought to talk with a local Logan SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Logan businesses. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Deseret First Fcu that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Find an SBA Lender in Salt Lake City, Utah Getting a Business Loan in Utah
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