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May 5, 2024 |
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| Home > Small Business Lenders by State > Arizona Business Loan Sources > Truckee, Business Loans > Bank Of The West Truckee Business Loans > Specialized Design Services Loan | ||||
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How to Get an SBA 7A Loan in Scottsdale, Arizona
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Arizona SBA Loan Issued to Specialized Design Services CompanyLooking to get an Arizona bank loan? This Arizona entrepreneur got a bank loan, provided by a California bank that works with the SBA to help small business owners. By giving the right information to Bank Of The West, this Scottsdale, Arizona business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: SPECIALIZED DESIGN SERVICES SBA Loan Lender BANK OF THE WEST As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 541490 - Specialized Design Services Loan Approval Date 6/7/2002 Loan Approval Gross Amount $206,200 Loan Approval from the SBA Of the total $206,200 loan amount, the SBA guaranteed $154,650. 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 2 employees. The SBA loan application for the borrower indicated that the loan would help retain 2 existing jobs. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. 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: SBA Approved Banks in Truckee, California
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