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May 18, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > Riverdale, Business Loans > America First Fcu Riverdale Business Loans > Bed-And-Breakfast Inns Loan | ||||
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SBA 7A Banks That Lend to Oakley Small Businesses
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America First Fcu Gives Bank Loan to Bed-And-Breakfast Inns CompanyUtahBusiness loans are available to Utah business owners through the SBA. In this case, an Utah bank provides the loan. By giving the right information to America First Fcu, this Oakley, Utah business was able to get an SBA loan. To get this loan, the business owner gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: BED-AND-BREAKFAST INNS SBA Loan Lender AMERICA FIRST FCU The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide bank loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721191 - Bed-and-Breakfast Inns Loan Approval Date 5/12/2005 Loan Approval Gross Amount $409,000 Loan Approval from the SBA Of the total $409,000 loan amount, the SBA guaranteed $306,750. 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 only one employee. This SBA loan request did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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 Approved Banks in Riverdale, Utah
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