Zions First National Bank Provides SBA Loan to Buy Color Me Mine Franchising, Inc Franchise

Need a loan to invest in a Color Me Mine Franchising, Inc franchise? Zions First National Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Color Me Mine Franchising, Inc franchise? If so, here's a 2003 SBA franchise loan that you should know about. Zions First National Bank was the lender and the entrepreneur was based in Pleasant Grove, Utah.

SBA Loan Borrower

PLEASANT PASTIMES, INC.
PLEASANT GROVE, UT 84062

SBA Loan Lender

ZIONS FIRST NATIONAL BANK
2460 SOUTH 3270 WEST, SBA DEP
WEST VALLEY CITY, UT 84119

The lender provided this debt financing through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

453998 - Store Retailers

Loan Approval Date

3/3/2003

Loan Approval Gross Amount

$34,900

Loan Approval from the SBA

Of the total $34,900 loan amount, the SBA guaranteed $17,450.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Color Me Mine Franchising, Inc franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help retain 2 existing jobs.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Color Me Mine Enterprises

SBIR Funding

Where to Get an SBA Loan in West Valley City, Utah

Getting an SBA Loan in Utah