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May 6, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > Salt Lake City, Business Loans > Bank Of The West Salt Lake City Business Loans > Tax Preparation Services Loan | ||||
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Advice for Small Business Owners On Getting a Loan
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Tax Preparation Services LoansWith these loans for tax preparation services, the SBA guarantees the lender that the loan will be repaid. This tax preparation services loan for $109,100 was given to a Colorado entrepreneur in 2002. This small firm knew how to go about getting a business bank loan. Based in Aurora, Colorado, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Bank Of The West, based in Salt Lake City, Utah. SBA Loan Borrower COMPANY TYPE: TAX PREPARATION SERVICES SBA Loan Lender BANK OF THE WEST This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 541213 - Tax Preparation Services Loan Approval Date 4/11/2002 Loan Approval Gross Amount $109,100 Loan Approval from the SBA Of the total $109,100 loan amount, the SBA guaranteed $92,735. 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 3 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Many small businesses receive loans backed by the U.S. Small Business Administration. While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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 Approved Banks in Salt Lake City, Utah
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