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May 5, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > Cedar City, Business Loans > State Bank Of Southern Utah Cedar City Business Loans > Supermarkets And Grocery Stores Loan | ||||
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Tropic SBA Loans
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Tropic, Utah Entrepreneur Gets a Business LoanSearching for an Utah bank loan? This Utah entrepreneur got a bank loan, provided by an Utah bank that works with the SBA to help small business owners. Getting a small business loan in Tropic, Utah was a top priority for this loan applicant back in 2004 and, based on their loan application, they were successful in getting an SBA loan from State Bank Of Southern Utah. Here are the details on this Utah small business loan. SBA Loan Borrower COMPANY TYPE: SUPERMARKETS AND GROCERY STORES SBA Loan Lender STATE BANK OF SOUTHERN UTAH This lender issued this SBA bank loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 445110 - Supermarkets and Grocery Stores Loan Approval Date 6/1/2004 Loan Approval Gross Amount $450,000 Loan Approval from the SBA Of the total $450,000 loan amount, the SBA guaranteed $337,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The loan application did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees. 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. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like State Bank Of Southern Utah are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: Best Cedar City, Utah Banks for Small Business
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