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April 25, 2024 |
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| Home > Small Business Lenders by State > Arizona Business Loan Sources > Scottsdale, Business Loans > Copper Star Bank Scottsdale Business Loans > Personal Care Services Loan | ||||
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SBA Lenders That Lend to Arizona Entrepreneurs
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Cave Creek, Arizona Entrepreneur Gets a Business LoanArizonaSmall business loans are available to Arizona small business owners through the SBA. In this case, an Arizona bank provides the loan. This company, based in Cave Creek, 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 Copper Star Bank. We've got the inside scoop on this Arizona small business loan. SBA Loan Borrower COMPANY TYPE: PERSONAL CARE SERVICES SBA Loan Lender COPPER STAR BANK This lender issued this particular business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812199 - Personal Care Services Loan Approval Date 12/13/2001 Loan Approval Gross Amount $93,300 Loan Approval from the SBA Of the total $93,300 loan amount, the SBA guaranteed $79,305. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 10 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! Don't forget. To get an SBA loan, you must 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. Related Links: Where to Get an SBA Loan in Scottsdale, Arizona Getting an SBA Loan in Arizona
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