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April 27, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > Salt Lake City, Business Loans > Bank Of The West Salt Lake City Business Loans > Site Preparation Contractors Loan | ||||
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We Needed an SBA 7A Loan in Elizabeth, Colorado and We Got One!
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Site Preparation Contractors LoansLooking for loans for site preparation contractors? The SBA may be the answer. This $466,000 site preparation contractors loan was issued by an Utah bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Elizabeth, Colorado was able to borrow $466,000 from Bank Of The West. The SBA made the loan possible by guaranteeing $349,500 of this Colorado small business loan. SBA Loan Borrower COMPANY TYPE: SITE PREPARATION CONTRACTORS SBA Loan Lender BANK OF THE WEST This lender provides SBA guaranteed bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 238910 - Site Preparation Contractors Loan Approval Date 12/30/2003 Loan Approval Gross Amount $466,000 Loan Approval from the SBA Of the total $466,000 loan amount, the SBA guaranteed $349,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 16 employees. This SBA loan request indicated that the loan would help retain 16 existing jobs. Great, But How Can I Get an SBA Loan for My Business? If you are wondering how to find money to start a business or need money for an existing business, an SBA loan can be a great way to raise money There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Advice on Getting a Small Business Loan SBA Participating Banks in Salt Lake City, Utah
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