Arizona Small Business Loan Issued to Tile And Terrazzo Contractors Company

Small business loans in Arizona are are few and far betweeen these days. We take a look at one Arizona small business loan, provided by an Arizona bank, that was approved by the SBA.

This business, based in Tempe, Arizona, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Choice Bank. We've got the inside scoop on this Arizona small business loan.

SBA Loan Borrower

COMPANY TYPE: TILE AND TERRAZZO CONTRACTORS
Tempe, AZ 85282

SBA Loan Lender

CHOICE BANK
15190 N HAYDEN RD
SCOTTSDALE, AZ 85260

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

238340 - Tile and Terrazzo Contractors

Loan Approval Date

7/18/2007

Loan Approval Gross Amount

$950,900

Loan Approval from the SBA

Of the total $950,900 loan amount, the SBA guaranteed $713,175.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan documents indicated that the loan would help generate 6 new jobs and retain 10 existing jobs.

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

Many small businesses receive loans backed by the U.S. Small Business Administration.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Choice Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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