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May 12, 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 > Technical And Trade Schools Loan | ||||
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Raising Money in Spanish Fork (corporate Name F, Utah With SBA Loans
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Technical and Trade Schools LoansWith these loans for technical and trade schools, the SBA guarantees the lender that the loan will be repaid. This technical and trade schools loan for $10,000 was given to an Utah entrepreneur in 2005. Getting a small business loan in Spanish Fork (corporate Name F, Utah was important for this company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Mountain America Fcu, operating out of West Jordan, Utah. Here are the details on this Utah small business loan. SBA Loan Borrower COMPANY TYPE: TECHNICAL AND TRADE SCHOOLS SBA Loan Lender MOUNTAIN AMERICA FCU This lender processed this bank 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 611519 - Technical and Trade Schools Loan Approval Date 9/9/2005 Loan Approval Gross Amount $10,000 Loan Approval from the SBA Of the total $10,000 loan amount, the SBA guaranteed $5,000. 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 only one employee. The SBA loan application for the borrower indicated that the loan would help retain 1 existing job. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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: Best Banks in West Jordan, Utah
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