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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 > Excavation Work Loan | ||||
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Examples of Central SBA Loans
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Excavation Contractors Business LoansWith these business loans for excavation contractors, the SBA guarantees the lender that the loan will be repaid. This excavation contractors loan for $103,000 was given to an Utah entrepreneur in 2000. This business knew how to go about getting a business bank loan. Based in Central, 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: EXCAVATION WORK SBA Loan Lender ZIONS FIRST NATIONAL BANK When it made this small business loan, this bank was part of the SBA's Certified Lenders Program (CLP). This program is designed to offer fast service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1794 - Excavation Work NAICS Code 235930 - Excavation Contractors Loan Approval Date 4/11/2000 Loan Approval Gross Amount $103,000 Loan Approval from the SBA Of the total $103,000 loan amount, the SBA guaranteed $77,250. 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 5 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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 Zions First National 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: Obtaining Funding - Getting Venture Capital Where to Get an SBA Loan in West Valley City, Utah
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