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May 3, 2024 |
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| Home > Small Business Lenders by State > Arizona Business Loan Sources > Phoenix, Business Loans > National Bank Of Arizona Phoenix Business Loans > Computer, Peripheral Equipment And Software Merchant Wholesaler Loan | ||||
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National Bank Of Arizona Small Business
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Tempe, Arizona Business Gets SBA-Guaranteed Funding from National Bank Of ArizonaNational Bank Of Arizona and the SBA work together to get business loans for growing small businesses. Here's an example of how an Arizona entrepreneur was able to get a loan to take a small business to the next level. This growing company received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with National Bank Of Arizona, out of Phoenix, Arizona. The loan was granted and they received $650,000 to help grow their Tempe, Arizona business. SBA Loan Borrower COMPANY TYPE: COMPUTER, PERIPHERAL EQUIPMENT AND SOFTWARE MERCHANT WHOLESALER SBA Loan Lender 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 423430 - Computer, Peripheral Equipment and Software Merchant Wholesaler Loan Approval Date 4/18/2007 Loan Approval Gross Amount $650,000 Loan Approval from the SBA Of the total $650,000 loan amount, the SBA guaranteed $487,500. 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 20 employees. The SBA loan documents indicated that the loan would help retain 20 existing jobs. Getting an SBA Loan For Your Business 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: Obtaining Funding - How to Borrow Money SBA 7A Banks for Phoenix, Arizona Loans
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