Utah SBA Loan Issued to Record And Prerecorded Tape Stores Company

Business loans in Utah are are few and far betweeen these days. We take a look at one Utah business loan, provided by an Utah bank, that was approved by the SBA.

This business, based in Orem, 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 Capital Community Bank. We've got the inside scoop on this Utah small business loan.

SBA Loan Borrower

COMPANY TYPE: RECORD AND PRERECORDED TAPE STORES
OREM, UT 84058

SBA Loan Lender

CAPITAL COMMUNITY BANK
3280 N UNIVERSITY AVE
PROVO, UT 84604

This lender issued this particular commercial loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5735 - Record and Prerecorded Tape Stores

NAICS Code

451220 - Prerecorded Tape, Compact Disc, and Record Stores

Loan Approval Date

8/28/2000

Loan Approval Gross Amount

$97,600

Loan Approval from the SBA

Of the total $97,600 loan amount, the SBA guaranteed $78,080.

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 12 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide smart, affordable business financing for small businesses looking to expand.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you have a business and need capital to get to the next level? 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:

Accountant's Role in Securing Financing

SBA Participating Banks in Provo, Utah

Getting an SBA Loan in Utah