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May 11, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > West Jordan, Business Loans > Mountain America Fcu West Jordan Business Loans > Independent Artists, Writers, And Performers Loan | ||||
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Utah Small Business Funding
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Getting an SBA Loan for Independent Artists, Writers, and PerformersWith these business loans for independent artists, writers, and performers, the SBA guarantees the lender that the loan will be repaid. This independent artists, writers, and performers loan for $25,000 was given to an Utah entrepreneur in 2004. This 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 2004. The lending bank was Mountain America Fcu, based in West Jordan, Utah. SBA Loan Borrower COMPANY TYPE: INDEPENDENT ARTISTS, WRITERS, AND PERFORMERS SBA Loan Lender MOUNTAIN AMERICA FCU This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 711510 - Independent Artists, Writers, and Performers Loan Approval Date 10/19/2004 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $12,500. More Information on This SBA Loan The borrower borrowed this money for a new 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 retain 1 existing job. Great, But How Can I Get an SBA Loan for My Business? If you need money to start a small business or need money for an existing business, an SBA loan can be a great source of funding. 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 Mountain America 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: Obtaining Funding - How to Decide How Much to Raise Good Banks for Small Business in West Jordan, Utah
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