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May 18, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > Salt Lake City, Business Loans > Zions First National Bank Salt Lake City Business Loans > Photography Studios, Portrait Loan | ||||
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Utah SBA Loan from Zions First National Bank
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SBA Loan from Zions First National Bank Helps Photography Studios, Portrait CompanyAn SBA loan from Zions First National Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Saratoga Springs, Utah business owner got a $15,000 loan. This growing company knew how to go about getting a business bank loan. Based in Saratoga Springs, Utah, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was Zions First National Bank, based in Salt Lake City, Utah. SBA Loan Borrower COMPANY TYPE: PHOTOGRAPHY STUDIOS, PORTRAIT SBA Loan Lender ZIONS FIRST NATIONAL BANK 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 541921 - Photography Studios, Portrait Loan Approval Date 8/6/2007 Loan Approval Gross Amount $15,000 Loan Approval from the SBA Of the total $15,000 loan amount, the SBA guaranteed $7,500. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help retain 1 existing job. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. 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 Zions First National 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: SBA Approved Banks in Salt Lake City, Utah Getting a Business Loan in Utah
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