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May 4, 2024 |
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| Home > Small Business Lenders by State > Arizona Business Loan Sources > Borrego Springs, Business Loans > Borrego Springs Bank Borrego Springs Business Loans > Consumer Electronics Repair And Maintenance Loan | ||||
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How to Get SBA Loans in Phoenix, Arizona
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Small Business Loans for Consumer Electronics Repair and MaintenanceWith these small business loans for consumer electronics repair and maintenance, the SBA guarantees the lender that the loan will be repaid. This consumer electronics repair and maintenance loan for $229,000 was given to an Arizona entrepreneur in 2003. This small firm knew how to go about getting a business bank loan. Based in Phoenix, Arizona, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Borrego Springs Bank, based in Borrego Springs, California. SBA Loan Borrower COMPANY TYPE: CONSUMER ELECTRONICS REPAIR AND MAINTENANCE SBA Loan Lender BORREGO SPRINGS BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811211 - Consumer Electronics Repair and Maintenance Loan Approval Date 9/4/2003 Loan Approval Gross Amount $229,000 Loan Approval from the SBA Of the total $229,000 loan amount, the SBA guaranteed $171,750. 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 4 employees. The loan application indicated that the loan would help retain 4 existing jobs. Getting an SBA Loan For Your Business SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. 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. Related Links: Obtaining Funding - How to Decide How Much to Raise Good Banks for Small Business in Borrego Springs, California Getting an SBA Loan in California
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