Glendale, Arizona Entrepreneur Gets a Small Business Loan

Bank loans in Arizona are tough to come by these days. We take a look at one Arizona bank loan, provided by a California bank, that was approved by the SBA.

You can learn something about getting a small business loan in Glendale, Arizona by studying this loan to a local company, made back in 2000. Banks like Sterling Savings Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: SURGICAL AND MEDICAL INSTRUMENTS AND APPARATUS
GLENDALE, AZ 85306

SBA Loan Lender

STERLING SAVINGS BANK
801 FOURTH ST
SANTA ROSA, CA 95404

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.

SIC Code

3841 - Surgical and Medical Instruments and Apparatus

NAICS Code

339112 - Surgical and Medical Instrument Manufacturing

Loan Approval Date

6/27/2000

Loan Approval Gross Amount

$1,048,500

Loan Approval from the SBA

Of the total $1,048,500 loan amount, the SBA guaranteed $704,487.

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 28 employees. The SBA loan documents indicated that the loan would help retain 28 existing jobs.

Start the Process for Getting an SBA Loan Today!

Although it's called an SBA loan, you 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.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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.

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