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March 29, 2024  
 
 
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Arizona Small Business Loans from Stearns Bank Arizona

 

 
Loan Census SBA Loan Info

Stearns Bank Arizona SBA Loan to Sporting Goods Stores And Bicycle Shops Company

Stearns Bank Arizona has a track record as a leading provider of SBA loans. Find out how this Arizona entrepreneur received an SBA loan from them.

This growing company knew how to go about getting a business bank loan. Based in Glendale, Arizona, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Stearns Bank Arizona, based in Scottsdale, Arizona.

SBA Loan Borrower

COMPANY TYPE: SPORTING GOODS STORES AND BICYCLE SHOPS
GLENDALE, AZ 85310

SBA Loan Lender

STEARNS BANK ARIZONA
9225 E SHEA BLVD
SCOTTSDALE, AZ 85260

This lender issued this particular 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.

SIC Code

5941 - Sporting Goods Stores and Bicycle Shops

NAICS Code

451110 - Sporting Goods Stores

Loan Approval Date

7/12/2000

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $112,500.

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 3 employees. The SBA loan application for the borrower did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you are wondering how to find money to start a business or need money to grow a business, an SBA loan can be a great source of funding.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Stearns Bank Arizona and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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