 |
 |
May 16, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > Utah Business Loan Sources > Salt Lake City, Business Loans > Celtic Bank Corporation Salt Lake City Business Loans > Industrial Supplies Loan | ||||
 |
||||
Raising Money in Salt Lake City, Utah With SBA Loans
|
||||
 |
Small Business Loans for Building Material DealersLooking for small business loans for building material dealers? The SBA may be the answer. This $159,000 building material dealers loan was issued by an Utah bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Salt Lake City, Utah was able to borrow $159,000 from Celtic Bank Corporation. The SBA made the loan possible by guaranteeing $119,250 of this Utah small business loan. SBA Loan Borrower COMPANY TYPE: INDUSTRIAL SUPPLIES SBA Loan Lender CELTIC BANK CORPORATION This lender issued this SBA bank loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5085 - Industrial Supplies NAICS Code 444190 - Building Material Dealers Loan Approval Date 11/21/2001 Loan Approval Gross Amount $159,000 Loan Approval from the SBA Of the total $159,000 loan amount, the SBA guaranteed $119,250. 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 4 employees. The loan application did not indicate that the company planned to use the money to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Celtic Bank Corporation had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Celtic Bank Corporation made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Good Banks for Small Business in Salt Lake City, Utah
|
|
||
|
||||
|
|
||||