Commercial Loans for Direct Property and Casualty Insurance Carriers

With these commercial loans for direct property and casualty insurance carriers, the SBA guarantees the lender that the loan will be repaid. This direct property and casualty insurance carriers loan for $689,000 was given to an Arizona entrepreneur in 2007.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Phoenix, Arizona was able to borrow $689,000 from Sterling Savings Bank. The SBA made the loan possible by guaranteeing $516,750 of this Arizona small business loan.

SBA Loan Borrower

COMPANY TYPE: DIRECT PROPERTY AND CASUALTY INSURANCE CARRIERS
PHOENIX, AZ 85048

SBA Loan Lender

STERLING SAVINGS BANK
111 N WALL ST, MAIL STOP #952
SPOKANE, WA 99201

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.

NAICS Code

524126 - Direct Property and Casualty Insurance Carriers

Loan Approval Date

3/12/2007

Loan Approval Gross Amount

$689,000

Loan Approval from the SBA

Of the total $689,000 loan amount, the SBA guaranteed $516,750.

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 3 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 3 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

If you want money for new small business in Phoenix AZ, you ought to talk with a local Phoenix SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Phoenix 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 Sterling Savings Bank 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.

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