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April 27, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > West Jordan, Business Loans > Mountain America Fcu West Jordan Business Loans > Truck, Utility Trailer, And Rv Rental And Leasing Loan | ||||
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Who Lends Money to Salt Lake City Businesses
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Mountain America Fcu Gives Bank Loan to Truck, Utility Trailer, And Rv Rental And Leasing CompanyLooking to get an Utah bank loan? This Utah entrepreneur got a bank loan, provided by an Utah bank that works with the SBA to help small business owners. Getting a small business loan in Salt Lake City, Utah was a top priority for this loan applicant back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Mountain America Fcu. Here are the details on this Utah small business loan. SBA Loan Borrower COMPANY TYPE: TRUCK, UTILITY TRAILER, AND RV RENTAL AND LEASING SBA Loan Lender MOUNTAIN AMERICA FCU This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 532120 - Truck, Utility Trailer, and RV Rental and Leasing Loan Approval Date 3/26/2004 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The loan application indicated that the loan would help retain 6 existing jobs. Next Steps for Getting an SBA Loan 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: SBA 7A Banks for West Jordan, Utah Loans
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