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May 8, 2024 |
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| Home > Small Business Lenders by State > Wyoming Business Loan Sources > Salt Lake City, Business Loans > Bank Of The West Salt Lake City Business Loans > Transportation Services Loan | ||||
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Getting SBA Loans from Bank Of The West
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Business Loan from Bank Of The West Given to Transportation Services CompanyBank Of The West and the SBA work together to get business loans for growing small businesses. Here's an example of how a Wyoming entrepreneur was able to get a loan to take a small business to the next level. This business knew how to go about getting a business bank loan. Based in Lander, Wyoming, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Bank Of The West, based in Salt Lake City, Utah. SBA Loan Borrower COMPANY TYPE: TRANSPORTATION SERVICES SBA Loan Lender BANK OF THE WEST This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. SIC Code 4789 - Transportation Services Loan Approval Date 4/17/2000 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. 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 only one employee. The SBA loan application for the borrower indicated that the loan would help generate 1 new job. Next Steps for Getting an SBA Loan SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bank Of The West had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bank Of The West made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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 Getting a Business Loan in Utah
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