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May 15, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > West Valley City, Business Loans > Zions First National Bank West Valley City Business Loans > Automotive Mechanical And Electrical Repair And Maintenance Loan | ||||
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Business Loans from Zions First National Bank
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Zions First National Bank SBA Loan to Automotive Mechanical And Electrical Repair And Maintenance CompanyZions First National Bank has a track record as a leading provider of SBA loans. Find out how this California entrepreneur received an SBA loan from them. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Rancho Cordova (mills), California was able to borrow $263,500 from Zions First National Bank. The SBA made the loan possible by guaranteeing $197,625 of this California small business loan. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE MECHANICAL AND ELECTRICAL REPAIR AND MAINTENANCE SBA Loan Lender ZIONS FIRST NATIONAL 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 811118 - Automotive Mechanical and Electrical Repair and Maintenance Loan Approval Date 7/23/2001 Loan Approval Gross Amount $263,500 Loan Approval from the SBA Of the total $263,500 loan amount, the SBA guaranteed $197,625. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 7 employees. This SBA loan request indicated that the loan would help generate 3 new jobs and retain 7 existing jobs. Great, But How Can I Get an SBA Loan for My Business? For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. 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: Obtaining Funding - How to Borrow Money Best West Valley City, Utah Banks for Small Business
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