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April 29, 2024 |
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| Home > Small Business Lenders by State > Arizona Business Loan Sources > Phoenix, Business Loans > Wells Fargo Bank Phoenix Business Loans > Limited-Service Restaurants Loan | ||||
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How to Get SBA Money in Chandler, Arizona
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Growing Company Gets an Arizona Business LoanArizonaBank loans are available to Arizona firms through the SBA. In this case, an Arizona bank provides the loan. You can learn something about getting a small business loan in Chandler, Arizona by studying this loan to a local company, made back in 2001. Banks like Wells Fargo Bank may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: LIMITED-SERVICE RESTAURANTS SBA Loan Lender WELLS FARGO BANK This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 9/20/2001 Loan Approval Gross Amount $596,500 Loan Approval from the SBA Of the total $596,500 loan amount, the SBA guaranteed $447,375. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 7 employees. The loan application indicated that the loan would help generate 43 new jobs and retain 7 existing jobs. Next Steps for Getting an SBA Loan Don't apply for a loan directly with the SBA. You need to 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:
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