 |
 |
April 28, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > Utah Business Loan Sources > Salt Lake City, Business Loans > Deseret First Fcu Salt Lake City Business Loans > Commercial And Industrial Machinery And Equipment Loan | ||||
 |
||||
How to Get SBA Loans in Spanish Fork, Utah
|
||||
 |
How to Get a Loan for Commercial and Industrial Machinery and EquipmentLooking for SBA loans for commercial and industrial machinery and equipment? The SBA may be the answer. This $217,600 commercial and industrial machinery and equipment loan was issued by an Utah bank. This small business knew how to go about getting a business bank loan. Based in Spanish Fork, Utah, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Deseret First Fcu, based in Salt Lake City, Utah. SBA Loan Borrower COMPANY TYPE: COMMERCIAL AND INDUSTRIAL MACHINERY AND EQUIPMENT SBA Loan Lender DESERET FIRST FCU SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This debt financing was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811310 - Commercial and Industrial Machinery and Equipment Loan Approval Date 9/23/2005 Loan Approval Gross Amount $217,600 Loan Approval from the SBA Of the total $217,600 loan amount, the SBA guaranteed $163,200. 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 4 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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: Who Lends Money to Small Businesses in Salt Lake City, Utah
|
|
||
|
||||
|
|
||||