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April 27, 2024 |
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| Home > Small Business Lenders by State > Arizona Business Loan Sources > Truckee, Business Loans > Bank Of The West Truckee Business Loans > Construction And Mining Machinery And Equipment Merchant Loan | ||||
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Bank Of The West SBA 7A Loans
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Construction and Mining Machinery and Equipment Merchant Business LoansWith these business loans for construction and mining machinery and equipment merchant, the SBA guarantees the lender that the loan will be repaid. This construction and mining machinery and equipment merchant loan for $590,000 was given to an Arizona entrepreneur in 2005. Getting a small business loan in Tucson, Arizona was important for this small business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Bank Of The West, operating out of Truckee, California. Here are the details on this Arizona small business loan. SBA Loan Borrower COMPANY TYPE: CONSTRUCTION AND MINING MACHINERY AND EQUIPMENT MERCHANT SBA Loan Lender BANK OF THE WEST This lender provides SBA bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 423810 - Construction and Mining Machinery and Equipment Merchant Loan Approval Date 11/30/2005 Loan Approval Gross Amount $590,000 Loan Approval from the SBA Of the total $590,000 loan amount, the SBA guaranteed $442,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 11 employees. This SBA loan request indicated that the loan would help retain 11 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: Raising VC Money for Social Networking Companies SBA Approved Banks in Truckee, California Where to Get an SBA Loan California
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