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May 6, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Salt Lake City, Business Loans > Bank Of The West Salt Lake City Business Loans > Drycleaning And Laundry Services Loan | ||||
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Utah SBA Banks
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Salt Lake City, Utah Lender Lends Money to Drycleaning And Laundry Services CompanyThinking about meeting with a Salt Lake City, Utah bank about a business loan? Here's one California 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 firm in La Mesa, California. The business was able to get an SBA loan for $73,000. Nice! SBA Loan Borrower COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES SBA Loan Lender BANK OF THE WEST This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812320 - Drycleaning and Laundry Services Loan Approval Date 10/20/2003 Loan Approval Gross Amount $73,000 Loan Approval from the SBA Of the total $73,000 loan amount, the SBA guaranteed $62,050. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. This SBA loan request did not indicate that the business 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? SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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: Best Banks in Salt Lake City, Utah SBA Participating Banks in Utah
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