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May 9, 2024 |
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| Home > Small Business Lenders by State > North Dakota Business Loan Sources > Salt Lake City, Business Loans > Bank Of The West Salt Lake City Business Loans > Hardware Stores Loan | ||||
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Banks Doing SBA Loans in Utah
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Salt Lake City, Utah Bank Gives SBA Loan to Hardware Stores CompanyWant to talk with a Salt Lake City, Utah bank about a business loan? Here's one North Dakota business loan, issued by a Salt Lake City bank, that was approved by the SBA. Applying for an SBA loan with Bank Of The West worked out well for our friends at one local firm in Wahpeton, North Dakota. The business was able to get an SBA loan for $288,500. Way to go! SBA Loan Borrower COMPANY TYPE: HARDWARE STORES SBA Loan Lender BANK OF THE WEST Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 444130 - Hardware Stores Loan Approval Date 11/19/2001 Loan Approval Gross Amount $288,500 Loan Approval from the SBA Of the total $288,500 loan amount, the SBA guaranteed $216,375. 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 10 employees. This SBA loan request indicated that the loan would help retain 10 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for 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: Obtaining Funding - Friends and Family SBA Approved Banks in Salt Lake City, Utah
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