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May 9, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Salt Lake City, Business Loans > Bank Of The West Salt Lake City Business Loans > Scientific And Technical Consulting Services Loan | ||||
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Bank Of The West
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Eden Prairie, Minnesota Business Gets SBA-Guaranteed Funding from Bank Of The WestAn SBA loan from Bank Of The West typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Eden Prairie, Minnesota business owner got a $75,000 loan. This business knew how to go about getting a business bank loan. Based in Eden Prairie, Minnesota, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Bank Of The West, based in Salt Lake City, Utah. SBA Loan Borrower COMPANY TYPE: SCIENTIFIC AND TECHNICAL CONSULTING SERVICES SBA Loan Lender BANK OF THE WEST This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 541690 - Scientific and Technical Consulting Services Loan Approval Date 12/15/2005 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $37,500. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help generate 3 new jobs and retain 2 existing jobs. Getting an SBA Loan For Your Business For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Bank Of The West so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Small Bank Loans in Salt Lake City, Utah SBA Participating Banks in Utah
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