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April 28, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > Phoenix, Business Loans > Wells Fargo Bank Phoenix Business Loans > Commercial Equipment Merchant Wholesalers Loan | ||||
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How to Get Commercial Loans in Centerville, Utah
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Wells Fargo Bank Gives Bank Loan to Commercial Equipment Merchant Wholesalers CompanyBank loans in Utah are are few and far betweeen these days. We take a look at one Utah bank loan, provided by an Arizona bank, that was approved by the SBA. You can learn something about getting a small business loan in Centerville, Utah by studying this loan to a local company, made back in 2003. Banks like Wells Fargo Bank may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: COMMERCIAL EQUIPMENT MERCHANT WHOLESALERS SBA Loan Lender WELLS FARGO BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 423440 - Commercial Equipment Merchant Wholesalers Loan Approval Date 10/15/2003 Loan Approval Gross Amount $479,600 Loan Approval from the SBA Of the total $479,600 loan amount, the SBA guaranteed $359,700. 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 10 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 10 existing jobs. Great, But How Can I Get an SBA Loan for My Business? 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. 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 Wells Fargo Bank 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: Best Phoenix, Arizona Banks for Small Business
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