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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 > Plastics Materials And Basic Forms And Shapes Merchant Wholesalers Loan | ||||
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Banks Doing SBA Loans in Utah
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Salt Lake City, Utah Lender Lends Money to Plastics Materials And Basic Forms And Shapes Merchant Wholesalers CompanyThinking about meeting with a Salt Lake City, Utah bank about a small business loan? Here's one Minnesota business loan, issued by a Salt Lake City bank, that was approved by the SBA. Applying for an SBA loan with Bank Of The West worked out well for our friends at one local company in Fergus Falls, Minnesota. They got an SBA loan for $200,000. Sweet! SBA Loan Borrower COMPANY TYPE: PLASTICS MATERIALS AND BASIC FORMS AND SHAPES MERCHANT WHOLESALERS SBA Loan Lender BANK OF THE WEST This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 424610 - Plastics Materials and Basic Forms and Shapes Merchant Wholesalers Loan Approval Date 5/29/2003 Loan Approval Gross Amount $200,000 Loan Approval from the SBA Of the total $200,000 loan amount, the SBA guaranteed $150,000. 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 11 employees. This SBA loan request indicated that the loan would help retain 11 existing jobs. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Bank Of The West and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Good Banks for Small Business in Salt Lake City, Utah
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