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New Star General Contractors, Inc.

West Valley City, UT · Commercial and Institutional Building Construction · NAICS 236220

New Star General Contractors, Inc. is a commercial and institutional building construction business in West Valley City, Utah (NAICS 236220). The company was financed with an SBA 7(a) loan for a change of ownership totaling $1,645,200, approved on January 28, 2024, by First Utah Bank.

SBA 7(a) loan, change of ownership, approved Jan 28, 2024

$1,645,200 approvedLender: First Utah Bank10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$1,645,200
SBA-guaranteed amount
$1,233,900 (75% of the approval)
Lender
First Utah Bank, Salt Lake City, UT
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9.25%, variable
Term
10 years (120 months)
Estimated maturity
January 28, 2034 (estimated, approval date plus term)
Estimated monthly payment
$21,064 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jan 31, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
2
Business type
Corporation
NAICS
236220, Commercial and Institutional Building Construction
Project location
Salt Lake County, UT
SBA district office
Utah District Office
Congressional district
UT-02
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)
  • Larger than 28% of acquisition loans in Commercial and Institutional Building Construction on this site.
  • Average acquisition loan in Commercial and Institutional Building Construction: $2,773,374.
  • Average acquisition loan in Utah: $1,761,092.

Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.

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Same industry in Utah