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May 15, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > West Valley City, Business Loans > Zions First National Bank West Valley City Business Loans > General Contracting For Nonresidential Buildings Loan | ||||
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What Does It Take to Get a Business Loan in American Fork, Utah?
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Business Loans for Commercial and Institutional Building ConstructionLooking for business loans for commercial and institutional building construction? An SBA loan may be just what you've been looking for. This $7,000 commercial and institutional building construction loan was issued by an Utah bank. This small business knew how to go about getting a business bank loan. Based in American Fork, Utah, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Zions First National Bank, based in West Valley City, Utah. SBA Loan Borrower COMPANY TYPE: GENERAL CONTRACTING FOR NONRESIDENTIAL BUILDINGS SBA Loan Lender ZIONS FIRST NATIONAL BANK The lender provided this SBA business 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. SIC Code 1542 - General Contracting for Nonresidential Buildings NAICS Code 233320 - Commercial and Institutional Building Construction Loan Approval Date 5/26/2000 Loan Approval Gross Amount $7,000 Loan Approval from the SBA Of the total $7,000 loan amount, the SBA guaranteed $3,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help generate 1 new job and retain 1 existing job. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide smart, affordable business financing for small businesses looking to expand. 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: SBA Banks in West Valley City, Utah
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