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April 28, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > Salt Lake City, Business Loans > First Utah Bank Salt Lake City Business Loans > Wood Kitchen Cabinet And Countertop Manufacturing Loan | ||||
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First Utah Bank Business Loans North Salt Lake, Utah
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North Salt Lake, Utah Business Gets SBA-Guaranteed Funding from First Utah BankFirst Utah Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Utah entrepreneur who tapped into the power of SBA loans. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in North Salt Lake, Utah was able to borrow $250,000 from First Utah Bank. The SBA made the loan possible by guaranteeing $187,500 of this Utah small business loan. SBA Loan Borrower COMPANY TYPE: WOOD KITCHEN CABINET AND COUNTERTOP MANUFACTURING SBA Loan Lender FIRST UTAH BANK 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 337110 - Wood Kitchen Cabinet and Countertop Manufacturing Loan Approval Date 1/23/2006 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $187,500. 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 28 employees. This SBA loan request indicated that the loan would help generate 4 new jobs and retain 32 existing jobs. Getting an SBA Loan For Your Business If you are wondering how to find money to start a business or need money for an existing business, an SBA loan can be a great source of funding. 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 $250,000 loan. Remember, fight for what you want, and it will be yours! 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 Best Salt Lake City, Utah Banks for Small Business
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