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April 28, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > Salt Lake City, Business Loans > First Utah Bank Salt Lake City Business Loans > Physicians, Mental Health Specialists Loan | ||||
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Business Loans for Salt Lake City Business Owners
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Financing for Physicians, Mental Health SpecialistsLooking for commercial loans for physicians, mental health specialists? Talk to a banker who works with the SBA. This $50,000 physicians, mental health specialists loan was issued by an Utah bank. This small business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with First Utah Bank, out of Salt Lake City, Utah. The loan was granted and they received $50,000 to help grow their Salt Lake City, Utah business. SBA Loan Borrower COMPANY TYPE: PHYSICIANS, MENTAL HEALTH SPECIALISTS SBA Loan Lender FIRST UTAH BANK This lender processed this SBA loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. 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 621112 - Physicians, Mental Health Specialists Loan Approval Date 5/18/2006 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. 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 3 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 3 existing jobs. Getting an SBA Loan For Your Business SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. 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 First Utah Bank 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. Related Links: Who Lends Money to Small Businesses in Salt Lake City, Utah
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