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May 1, 2024 |
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| Home > Small Business Lenders by State > Arizona Business Loan Sources > Scottsdale, Business Loans > First National Bank Of Arizona Scottsdale Business Loans > Specialty Food Stores Loan | ||||
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First National Bank Of Arizona Commercial Loans
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Business Loans for Specialty Food StoresWith these business loans for specialty food stores, the SBA guarantees the lender that the loan will be repaid. This specialty food stores loan for $481,700 was given to an Arizona entrepreneur in 2007. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Scottsdale, Arizona was able to borrow $481,700 from First National Bank Of Arizona. The SBA made the loan possible by guaranteeing $361,275 of this Arizona small business loan. SBA Loan Borrower COMPANY TYPE: SPECIALTY FOOD STORES SBA Loan Lender FIRST NATIONAL BANK OF ARIZONA 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 445299 - Specialty Food Stores Loan Approval Date 3/22/2007 Loan Approval Gross Amount $481,700 Loan Approval from the SBA Of the total $481,700 loan amount, the SBA guaranteed $361,275. 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 60 employees. The SBA loan documents indicated that the loan would help generate 20 new jobs and retain 60 existing jobs. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. 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: Banking Deregulation's Effects on Entrepreneurship SBA 7A Lenders in Scottsdale, Arizona
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