SBA Loan from U.S. Bank National Association Helps No Industry Type Specified Company

An SBA loan from U.S. Bank National Association typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Salt Lake City, Utah business owner got a $11,300 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Salt Lake City, Utah was able to borrow $11,300 from U.S. Bank National Association. The SBA made the loan possible by guaranteeing $5,650 of this Utah small business loan.

SBA Loan Borrower

COMPANY TYPE: NO INDUSTRY TYPE SPECIFIED
SALT LAKE CITY, UT 84116

SBA Loan Lender

U.S. BANK NATIONAL ASSOCIATION
425 WALNUT ST
CINCINNATI, OH 45202

The lender provided this SBA bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

516110 -

Loan Approval Date

8/12/2004

Loan Approval Gross Amount

$11,300

Loan Approval from the SBA

Of the total $11,300 loan amount, the SBA guaranteed $5,650.

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 2 employees. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 7 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

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.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into U.S. Bank National Association and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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.

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