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April 27, 2024 |
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| Home > Small Business Lenders by State > Wyoming Business Loan Sources > Salt Lake City, Business Loans > Bank Of The West Salt Lake City Business Loans > Automotive Parts And Accessories Stores Loan | ||||
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Basin, Wyoming Bank for SBA Loans
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Company Gets a Wyoming Business LoanWould a Wyoming SBA loan help your business get to the next level? If so, you may want to talk with this Utah bank, which offers SBA loans to Wyoming entrepreneurs. This small business, based in Basin, Wyoming, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Bank Of The West. We've got the inside scoop on this Wyoming small business loan. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE PARTS AND ACCESSORIES STORES SBA Loan Lender BANK OF THE WEST This lender issued this particular debt financing under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 441310 - Automotive Parts and Accessories Stores Loan Approval Date 4/3/2003 Loan Approval Gross Amount $110,000 Loan Approval from the SBA Of the total $110,000 loan amount, the SBA guaranteed $93,500. 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 4 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. We've showcased information on this loan to let you know that businesses like yours 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: How Much Venture Capital Is There? Find an SBA Lender in Salt Lake City, Utah
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