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April 19, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > West Valley City, Business Loans > Zions First National Bank West Valley City Business Loans > Pretzel Maker Loan | ||||
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Where Can I Find Franchise Loans in St. George, Utah?
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Utah Entrepreneur Secures Financing to Buy Pretzelmaker FranchiseNeed money to invest in a Pretzelmaker franchise? Zions First National Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Pretzelmaker franchise shouldn't be overly burdensome. In 2000, Zions First National Bank issued an SBA franchise loan to an entrepreneur in St. George, Utah. Because Pretzelmaker was registered with the SBA's registry of franchises, this Utah small business loan was issued on an expedited basis. SBA Loan Borrower PRETZEL MAKER 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. SIC Code 5812 - Eating Places Loan Approval Date 4/4/2000 Loan Approval Gross Amount $36,000 Loan Approval from the SBA Of the total $36,000 loan amount, the SBA guaranteed $18,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Pretzelmaker franchise. At the time of the loan, the company had 6 employees. The loan application indicated that the loan would help generate 5 new jobs and retain 6 existing jobs. Great, But How Can I Get an SBA Loan for My 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. 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: Family and Friend Investors - Your First Financiers Where to Get an SBA Loan in West Valley City, Utah Browse All Business Loan Sources for Utah
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