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May 2, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > Salt Lake City, Business Loans > Celtic Bank Corporation Salt Lake City Business Loans > Homes For The Elderly Loan | ||||
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Raising Money in Vernal, Utah With SBA Loans
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Loans for Homes for the ElderlyLooking for loans for homes for the elderly? An SBA loan may be just what you've been looking for. This $114,000 homes for the elderly loan was issued by an Utah bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Vernal, Utah was able to borrow $114,000 from Celtic Bank Corporation. The SBA made the loan possible by guaranteeing $96,900 of this Utah small business loan. SBA Loan Borrower COMPANY TYPE: HOMES FOR THE ELDERLY SBA Loan Lender CELTIC BANK CORPORATION This lender issued this small business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 623312 - Homes for the Elderly Loan Approval Date 4/12/2004 Loan Approval Gross Amount $114,000 Loan Approval from the SBA Of the total $114,000 loan amount, the SBA guaranteed $96,900. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The loan application did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $114,000 loan. Remember, anyone can do it... so why not you? 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: Realistic Debt Financing Options
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