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May 8, 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 > Special Trade Contractors Loan | ||||
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Bank Of The West Small Business Loans
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Fairmont, Minnesota Business Gets SBA-Guaranteed Funding from Bank Of The WestBank Of The West has a track record as a leading provider of SBA loans. Find out how this Minnesota entrepreneur received an SBA loan from them. This growing company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Bank Of The West, out of Salt Lake City, Utah. The loan was granted and they received $204,600 to help grow their Fairmont, Minnesota business. SBA Loan Borrower COMPANY TYPE: SPECIAL TRADE CONTRACTORS SBA Loan Lender BANK OF THE WEST Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 235990 - Special Trade Contractors Loan Approval Date 8/15/2003 Loan Approval Gross Amount $204,600 Loan Approval from the SBA Of the total $204,600 loan amount, the SBA guaranteed $153,450. 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 10 employees. The SBA loan application for the borrower indicated that the loan would help retain 10 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Bank Of The West and they will explain how you can get an SBA loan for your company. 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: SBA Banks in Salt Lake City, Utah
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