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May 8, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > Salt Lake City, Business Loans > Bank Of The West Salt Lake City Business Loans > Power Laundries, Family And Commercial Loan | ||||
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Murray, Utah Bank for SBA Loans
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Utah SBA Loan Issued to Power Laundries, Family And Commercial CompanyUtahBusiness loans are available to Utah business owners through the SBA. In this case, an Utah bank provides the loan. Getting a small business loan in Murray, Utah was a top priority for this SBA-financed company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Bank Of The West. Here are the details on this Utah small business loan. SBA Loan Borrower COMPANY TYPE: POWER LAUNDRIES, FAMILY AND COMMERCIAL SBA Loan Lender BANK OF THE WEST 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. SIC Code 7211 - Power Laundries, Family and Commercial NAICS Code 812320 - Drycleaning and Laundry Services Loan Approval Date 1/14/2000 Loan Approval Gross Amount $750,000 Loan Approval from the SBA Of the total $750,000 loan amount, the SBA guaranteed $562,500. 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 7 employees. The SBA loan application for the borrower indicated that the loan would help retain 7 existing jobs. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $750,000 loan. Remember, anyone can do it... so why not 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: Microlending as a Small Business Funding Source SBA 7A Banks in Salt Lake City, Utah
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