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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 > Reupholstery And Furniture Repair Loan | ||||
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Business Loans for Orem Businesses
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Loans for Reupholstery and Furniture RepairLooking for loans for reupholstery and furniture repair? Try the SBA. This $40,000 reupholstery and furniture repair loan was issued by an Utah bank. Getting a small business loan in Orem, Utah was important for this growing firm back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Deseret First Fcu, operating out of Salt Lake City, Utah. Here are the details on this Utah small business loan. SBA Loan Borrower COMPANY TYPE: REUPHOLSTERY AND FURNITURE REPAIR 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 811420 - Reupholstery and Furniture Repair Loan Approval Date 5/5/2006 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 9 employees. The SBA loan documents indicated that the loan would help retain 9 existing jobs. Start the Process for Getting an SBA Loan Today! The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Deseret First Fcu and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Realistic Debt Financing Options SBA Participating Banks in Utah
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