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May 9, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > Salt Lake City, Business Loans > Bank Of The West Salt Lake City Business Loans > Grocery Stores Loan | ||||
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SBA Lender Salt Lake City, Utah
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Salt Lake City, Utah Bank Gives SBA Loan to Grocery Stores CompanyFind Salt Lake City, Utah banks that specialize in SBA loans and know how to work with entrepreneurs. Bank Of The West is one such bank, as evidenced by this SBA loan to one business. Finding a small business loan in Elsinore, Utah starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from Bank Of The West. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: GROCERY STORES SBA Loan Lender BANK OF THE WEST This bank loan was issued by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a comprehensive analysis of the loan application and, in return, SBA promises a quick answer on whether the loan qualifies. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5411 - Grocery Stores NAICS Code 445210 - Meat Markets Loan Approval Date 10/17/2001 Loan Approval Gross Amount $426,000 Loan Approval from the SBA Of the total $426,000 loan amount, the SBA guaranteed $319,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 9 employees. The loan application did not indicate that the SBA funding recipient promised 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? Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Bank Of The West 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 From a Venture Capitalist SBA 7A Banks for Salt Lake City, Utah Loans
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