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November 23, 2024 |
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| Home > Small Business Lenders by State > Arizona Business Loan Sources > Scottsdale, Business Loans > Copper Star Bank Scottsdale Business Loans > Tire And Tube Merchant Wholesalers Loan | ||||
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Get an SBA 7A Loan in Anthem, Arizona
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Arizona Business Loan Issued to Tire And Tube Merchant Wholesalers CompanyBusiness loans in Arizona are hard to find these days. We take a look at one Arizona business loan, provided by an Arizona bank, that was approved by the SBA. By giving the right information to Copper Star Bank, this Anthem, Arizona business was able to get an SBA loan. To get this loan, the business owner gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: TIRE AND TUBE MERCHANT WHOLESALERS SBA Loan Lender COPPER STAR BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 423130 - Tire and Tube Merchant Wholesalers Loan Approval Date 3/22/2006 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 6 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. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Copper Star Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Copper Star Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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 From a Venture Capitalist SBA 7A Banks in Scottsdale, Arizona
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