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May 16, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > Salt Lake City, Business Loans > Celtic Bank Corporation Salt Lake City Business Loans > Accounting Services Loan | ||||
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Raising Money in Ogden, Utah With SBA Loans
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Commercial Loans for Accounting ServicesLooking for commercial loans for accounting services? Talk to a banker who works with the SBA. This $100,000 accounting services loan was issued by an Utah bank. Getting a small business loan in Ogden, Utah was important for this small business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Celtic Bank Corporation, operating out of Salt Lake City, Utah. Here are the details on this Utah small business loan. SBA Loan Borrower COMPANY TYPE: ACCOUNTING SERVICES SBA Loan Lender CELTIC BANK CORPORATION This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with getting a loan . The low-doc program requires 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. NAICS Code 541219 - Accounting Services Loan Approval Date 11/14/2002 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. 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 12 employees. The SBA loan documents did not indicate that the small business promised to use the money to add employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Dealing With Venture Capitalists
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