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April 26, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > West Valley City, Business Loans > Zions First National Bank West Valley City Business Loans > Liberty Tax Service Loan | ||||
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Where to Get an SBA Loan to Purchase a Franchise
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Herriman, UT Entrepreneur Gets SBA Loan to Buy Liberty Tax Service FranchiseNeed a loan to buy a Liberty Tax Service franchise? Zions First National Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Liberty Tax Service franchise shouldn't be too tough. In 2003, Zions First National Bank issued an SBA franchise loan to an entrepreneur in Herriman, Utah. Because Liberty Tax Service was registered with the SBA's registry of franchises, this Utah small business loan was issued on an expedited basis. SBA Loan Borrower LIBERTY TAX SERVICE SBA Loan Lender ZIONS FIRST NATIONAL BANK This lender processed this loan for a small business under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. 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 541219 - Accounting Services Loan Approval Date 12/23/2003 Loan Approval Gross Amount $20,000 Loan Approval from the SBA Of the total $20,000 loan amount, the SBA guaranteed $10,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Liberty Tax Service franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 3 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. 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: Family and Friend Investors - Your First Financiers Banks in West Valley City, Utah
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