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May 9, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > Bountiful, Business Loans > 1st National Bank - Layton Bountiful Business Loans > Machine Tool Accessories Loan | ||||
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Utah SBA Loan from 1st National Bank - Layton
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1st National Bank - Layton SBA Loan to Machine Tool Accessories Company1st National Bank - Layton and the SBA work together to get business loans for growing small businesses. Here's an example of how an Utah entrepreneur was able to get a loan to take a small business to the next level. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Layton, Utah was able to borrow $50,000 from 1st National Bank - Layton. The SBA made the loan possible by guaranteeing $40,000 of this Utah small business loan. SBA Loan Borrower COMPANY TYPE: MACHINE TOOL ACCESSORIES SBA Loan Lender 1ST NATIONAL BANK - LAYTON This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring 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. SIC Code 3545 - Machine Tool Accessories Loan Approval Date 3/28/2000 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $40,000. 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 2 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business 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. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: SBA 7A Banks in Bountiful, Utah
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