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May 11, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > Layton, Business Loans > 1st National Bank - Layton Layton Business Loans > Full-Service Restaurants Loan | ||||
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Layton, Utah Bank Loan
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Utah SBA Loan Issued to Full-Service Restaurants CompanyUtahSmall business loans are available to Utah small business owners through the SBA. In this case, an Utah bank provides the loan. Getting a small business loan in Layton, Utah was a top priority for this small company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from 1st National Bank - Layton. Here are the details on this Utah small business loan. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender 1ST NATIONAL BANK - LAYTON 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 722110 - Full-Service Restaurants Loan Approval Date 12/9/2003 Loan Approval Gross Amount $94,600 Loan Approval from the SBA Of the total $94,600 loan amount, the SBA guaranteed $80,410. 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 3 employees. The SBA loan documents indicated that the loan would help generate 7 new jobs and retain 3 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Many small businesses receive loans backed by the U.S. Small Business Administration. 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 1st National Bank - Layton 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:
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