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May 21, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > Sandy, Business Loans > Bank Of American Fork Sandy Business Loans > Formal Wear And Costume Rental Loan | ||||
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Get an SBA Loan in South Jordan, Utah
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Bank Of American Fork Gives Business Loan to Formal Wear And Costume Rental CompanyLooking to get an Utah SBA loan? This Utah entrepreneur got an SBA loan, provided by an Utah bank that works with the SBA to help small business owners. By giving the right information to Bank Of American Fork, this South Jordan, Utah business was able to get an SBA loan. To get this loan, the applying company gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: FORMAL WEAR AND COSTUME RENTAL SBA Loan Lender BANK OF AMERICAN FORK This lender issued this particular loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 532220 - Formal Wear and Costume Rental Loan Approval Date 11/22/2002 Loan Approval Gross Amount $53,500 Loan Approval from the SBA Of the total $53,500 loan amount, the SBA guaranteed $45,475. More Information on This SBA Loan The borrower borrowed this money for a new 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 SBA loan documents did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees. 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. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bank Of American Fork had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bank Of American Fork made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Obtaining Funding - How to Decide How Much to Raise Who Lends Money to Small Businesses in Sandy, Utah SBA Participating Banks in Utah
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