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May 3, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > Salt Lake City, Business Loans > Salt Lake City Cu Salt Lake City Business Loans > Administrative Management And General Management Consulting Services Loan | ||||
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Raising Money in Sandy, Utah With SBA Loans
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Financing for Administrative Management and General Management Consulting ServicesWith these commercial loans for administrative management and general management consulting services, the SBA guarantees the lender that the loan will be repaid. This administrative management and general management consulting services loan for $30,000 was given to an Utah entrepreneur in 2007. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Sandy, Utah was able to borrow $30,000 from Salt Lake City Cu. The SBA made the loan possible by guaranteeing $15,000 of this Utah small business loan. SBA Loan Borrower COMPANY TYPE: ADMINISTRATIVE MANAGEMENT AND GENERAL MANAGEMENT CONSULTING SERVICES SBA Loan Lender SALT LAKE CITY CU The lender provided this SBA bank loan 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 541611 - Administrative Management and General Management Consulting Services Loan Approval Date 10/29/2007 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 only one employee. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 1 existing job. Next Steps for Getting an SBA Loan 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. 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: The Friends and Family Network Where to Get an SBA Loan in Salt Lake City, Utah
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