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May 4, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > American Fork, Business Loans > Bank Of American Fork American Fork Business Loans > Support Activities For Animal Production Loan | ||||
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Bank Of American Fork
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Business Loan from Bank Of American Fork Given to Support Activities For Animal Production CompanyBank Of American Fork and the SBA work together to get business loans for growing small businesses. Here's an example of how an Utah entrepreneur was able to get a loan to take a small business to the next level. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Salt Lake City, Utah was able to borrow $21,000 from Bank Of American Fork. The SBA made the loan possible by guaranteeing $17,850 of this Utah small business loan. SBA Loan Borrower COMPANY TYPE: SUPPORT ACTIVITIES FOR ANIMAL PRODUCTION SBA Loan Lender BANK OF AMERICAN FORK 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 115210 - Support Activities for Animal Production Loan Approval Date 6/29/2005 Loan Approval Gross Amount $21,000 Loan Approval from the SBA Of the total $21,000 loan amount, the SBA guaranteed $17,850. 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 5 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 5 existing jobs. 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. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $21,000 loan. Remember, feel the fear, and do it anyway. 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: Best Banks in American Fork, Utah Getting a Business Loan in Utah
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