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May 15, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > Price, Business Loans > Americanwest Bank Price Business Loans > Eating Places Loan | ||||
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Utah Bank SBA Loans
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Americanwest Bank SBA Loan to Eating Places CompanyWant an Utah small business loan? Here's one Utah business loan that was approved by the SBA. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Clawson, Utah was able to borrow $90,000 from Americanwest Bank. The SBA made the loan possible by guaranteeing $72,000 of this Utah small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender AMERICANWEST BANK This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program requires 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. SIC Code 5812 - Eating Places Loan Approval Date 3/29/2000 Loan Approval Gross Amount $90,000 Loan Approval from the SBA Of the total $90,000 loan amount, the SBA guaranteed $72,000. 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 14 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Americanwest Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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 SBA Participating Banks in Price, Utah
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