25th Street in Ogden UT

Business SBA Loans

Get the Capital to Fund Your Growth

SBA Loan Programs

The U.S. Small Business Administration (SBA) offers different types of SBA loans for Ogden businesses. These loans will help you accomplish the goals necessary to start, expand, or grow your business.

The SBA offers different loan programs for different types of businesses and their needs. Each type of loan program provides a solution to a particular situation. We can help you determine what financing option is right for your business and what you can do to qualify.

504 SBA Loan

Tackle long-term needs like land and buildings, equipment and business expansion projects. This program gives you the financing you need for major assets and business equipment.

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7(a) SBA Loan

Conquer long-term goals like commercial real estate projects, business expansion, leasehold improvements for new construction or remodeling, inventory and equipment, working capital and debt refinancing. The 7(a) SBA loan is one of the most common types of loan program, helping businesses that have special requirements to operate.

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Express SBA Loan

Accomplish your short-term goals like working capital, equipment and inventory purchases.

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Loans for Small Businesses

Wasatch Peaks Credit Union wants to help you fund your company's growth and help drive you to reach your business goals. Our experienced financial advisors are here to help your business reach its full potential, providing SBA and small business loans in Ogden at the most competitive rates.

Our advisors are ready to provide financial advice that will allow you to establish a new business or grow an existing one. We are proud to be part of the local community and will work with you personally to find a loan that will fit your specific needs. We provide customer service that you can rely on, putting you and your business’s needs first.

Trusted Local Partner

We take pride in the fact that we are situated in the same community where our members live and work. Members like Plain City business Nils Creamery have used Wasatch Peaks for nearly five years–even making it a family affair!

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Personalized products and services

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With our 504 SBA loans, competitive, fixed, below-market interest rates

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Commitment to local businesses in the Davis, Morgan, and Weber county communities

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Financial advisors experienced with a diverse range of businesses and industries

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Member access to Business Savings and Business Checking accounts

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Great terms for small business owners

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"Wasatch Peaks has always been behind us, and has continued to do a wonderful job keeping me on track with my financial goals!"

- Hailey

 

SBA LOAN FAQs

  • What are the eligibility requirements? What kind of credit score do I need for an SBA loan? How long are loan terms?

    You probably have a few questions about getting started. Here are the answers to some frequently asked questions asked by entrepreneurs and small-business owners just like you.

  • Who is eligible for an SBA Loan?

    Typically, SBA loans are approved by the lender. The approval process can take a variety of factors into account. Depending on the kind of loan for which your business is applying, the specific process will vary. 

    For example, with a 7(a) loan of up to $350,000 (not including Express Loans), applicants’ credit scores are reviewed using the FICO® Small Business Scoring Service® product (SBSS). This process is to ensure consistency and objectivity in the approval process.

    To determine whether you qualify for a 504 SBA loan, you can complete this eligibility worksheet.

  • How long are the loan terms?

    The SBA offers different term loans up to 25 years. The repayment term depends on whether it’s a machinery, working capital, or real estate loan.

  • Should I get a business credit card, checking, or savings account?

    Take some stress and confusion out of running a business and consolidate your banking at one institution. Wasatch Peaks Credit Union membership gets you access to our other business services that can give your business an edge while helping you stay organized.

    A business checking account means you can take credit card payments from customers, offers liability protection, helps you monitor cash flow, and simplifies your taxes. Not to mention, you will need some place for your SBA loan to be deposited.

    Business credit cards and savings accounts are also a good idea to help you keep track of finances and to take advantage of benefits.

  • Who qualifies for Wasatch Peaks membership?

    At least one business partner needs to be a Wasatch Peaks Credit Union member to qualify for any of our business products and services.

    Residents, students, members of houses of worship, and individuals who work or volunteer in Weber, Davis, and Morgan counties are all eligible for membership.

    Take advantage of shared branching at over 30,000 ATMs around the country, as well as nearly 5,000 branches and more than 2,000 self-service locations.

    If you’re considering applying for an SBA loan through Wasatch Peaks Credit Union, don’t wait–become a member!

    Join

For more information contact our Business Services Department at 801-452-7880, email them at business@wasatchpeaks.com, or click below to get started.

 

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324377707

Wasatch Peaks Credit Union 4723 Harrison Blvd Ogden, Utah 84403
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