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May 3, 2024 |
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| Home > Small Business Lenders by State > Arizona Business Loan Sources > Lordsburg, Business Loans > Western Bank Lordsburg Business Loans > Services Loan | ||||
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New Mexico Bank SBA Loans
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Western Bank SBA Loan to Services CompanyWant an Arizona small business loan? Here's one Arizona business loan that was approved by the SBA. This small business needed an SBA business loan in Tempe, Arizona back in 2000 and, after submitting their loan application, they were successful in getting an SBA loan from Western Bank, operating out of Lordsburg, New Mexico. Here are the details on this Arizona small business loan. SBA Loan Borrower COMPANY TYPE: SERVICES SBA Loan Lender WESTERN BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 8999 - Services Loan Approval Date 9/15/2000 Loan Approval Gross Amount $51,000 Loan Approval from the SBA Of the total $51,000 loan amount, the SBA guaranteed $40,800. 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 6 employees. The SBA loan documents did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business If you need money to start a small business or already have a business and need money to expand, an SBA loan can be a great source of funding. 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: Where to Get an SBA Loan in Lordsburg, New Mexico Find an SBA Lender in New Mexico
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