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May 10, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > West Jordan, Business Loans > Mountain America Fcu West Jordan Business Loans > Postal Service Loan | ||||
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I Need an SBA Loan in Pleasant Grove, Utah
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Raising Money for Postal ServiceWith these bank loans for postal service, the SBA guarantees the lender that the loan will be repaid. This postal service loan for $20,000 was given to an Utah entrepreneur in 2006. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Pleasant Grove, Utah was able to borrow $20,000 from Mountain America Fcu. The SBA made the loan possible by guaranteeing $10,000 of this Utah small business loan. SBA Loan Borrower COMPANY TYPE: POSTAL SERVICE SBA Loan Lender MOUNTAIN AMERICA FCU This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 491110 - Postal Service Loan Approval Date 5/2/2006 Loan Approval Gross Amount $20,000 Loan Approval from the SBA Of the total $20,000 loan amount, the SBA guaranteed $10,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help retain 1 existing job. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Mountain America Fcu that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Who Lends Money to Small Businesses in West Jordan, Utah
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