Loan Census Banking News and Information
March 28, 2024  
 
 
  Business Loan Information  
 

Phoenix Bank Loan

 

 
Loan Census SBA Loan Info

Entrepreneur Works With Phoenix, Arizona Bank to Get an SBA Loan

Get SBA loans from a Phoenix, Arizona bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too.

Cobiz Bank is a Phoenix, Arizona small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to an Arizona company.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL AND SERVICE INDUSTRY MACHINERY MANUFACTURING
SCOTTSDALE, AZ 85260

SBA Loan Lender

COBIZ BANK
2700 N CENTRAL AVE, STE 110
PHOENIX, AZ 85004

This bank loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

333319 - Commercial and Service Industry Machinery Manufacturing

Loan Approval Date

10/8/2003

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

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 12 employees. The loan application indicated that the loan would help generate 3 new jobs and retain 15 existing jobs.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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:

How to Raise Money

Find an SBA Lender in Phoenix, Arizona

Getting an SBA Loan in Arizona