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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 Washington, Utah With SBA Loans
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Getting an SBA Loan for Homes for the ElderlyWith these commercial loans for homes for the elderly, the SBA guarantees the lender that the loan will be repaid. This homes for the elderly loan for $688,000 was given to an Utah entrepreneur in 2005. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Washington, Utah was able to borrow $688,000 from Celtic Bank Corporation. The SBA made the loan possible by guaranteeing $516,000 of this Utah small business loan. SBA Loan Borrower COMPANY TYPE: HOMES FOR THE ELDERLY SBA Loan Lender CELTIC BANK CORPORATION When it made this small business loan, the lender was part of the SBA's Certified Lenders Program (CLP). This program is designed to give rapid service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 623312 - Homes for the Elderly Loan Approval Date 6/23/2005 Loan Approval Gross Amount $688,000 Loan Approval from the SBA Of the total $688,000 loan amount, the SBA guaranteed $516,000. More Information on This SBA Loan The borrower borrowed this money for an existing 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 31 employees. The loan application did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Celtic Bank Corporation and they will explain how you can get an SBA loan for your company. 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: Find an SBA Lender in Salt Lake City, Utah
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