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April 29, 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 > Security Systems Services Loan | ||||
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Banks for Small Businesses in Utah
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Deseret First Fcu Gives Business Loan to Security Systems Services CompanySBA loans in Utah are hard to find these days. We take a look at one Utah SBA loan, provided by an Utah bank, that was approved by the SBA. Getting a small business loan in Orem, Utah was a top priority for this particular business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Deseret First Fcu. Here are the details on this Utah small business loan. SBA Loan Borrower COMPANY TYPE: SECURITY SYSTEMS SERVICES 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 561621 - Security Systems Services Loan Approval Date 12/21/2007 Loan Approval Gross Amount $30,000 Loan Approval from the SBA Of the total $30,000 loan amount, the SBA guaranteed $15,000. 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 16 employees. The loan application indicated that the loan would help generate 5 new jobs and retain 21 existing jobs. Next Steps for Getting an SBA Loan 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. While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Borrowing Money from Friends and Family SBA Banks in Salt Lake City, Utah
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