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April 25, 2024 |
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| Home > Small Business Lenders by State > Arizona Business Loan Sources > Phoenix, Business Loans > Cobiz Bank Phoenix Business Loans > Specialty Trade Contractors Loan | ||||
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Requirements for Businesses On Getting a Loan
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Raising Money for Specialty Trade ContractorsWith these bank loans for specialty trade contractors, the SBA guarantees the lender that the loan will be repaid. This specialty trade contractors loan for $250,000 was given to an Arizona entrepreneur in 2005. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Scottsdale, Arizona was able to borrow $250,000 from Cobiz Bank. The SBA made the loan possible by guaranteeing $187,500 of this Arizona small business loan. SBA Loan Borrower COMPANY TYPE: SPECIALTY TRADE CONTRACTORS SBA Loan Lender COBIZ BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 238990 - Specialty Trade Contractors Loan Approval Date 8/29/2005 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 23 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 23 existing jobs. Next Steps for Getting an SBA Loan Although it's called an SBA loan, you 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. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: Getting a Business Loan in Arizona
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