Where to Get Capital for General Merchandise Stores

With these SBA loans for general merchandise stores, the SBA guarantees the lender that the loan will be repaid. This general merchandise stores loan for $1,052,500 was given to an Arizona entrepreneur in 2002.

This business knew how to go about getting a business bank loan. Based in Avondale, Arizona, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Sunrise Bank Of Arizona, based in Phoenix, Arizona.

SBA Loan Borrower

COMPANY TYPE: GENERAL MERCHANDISE STORES
AVONDALE, AZ 85323

SBA Loan Lender

SUNRISE BANK OF ARIZONA
4350 E CAMELBACK RD, STE 100
PHOENIX, AZ 85018

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

452990 - General Merchandise Stores

Loan Approval Date

3/28/2002

Loan Approval Gross Amount

$1,052,500

Loan Approval from the SBA

Of the total $1,052,500 loan amount, the SBA guaranteed $789,375.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 7 employees. The SBA loan application for the borrower indicated that the loan would help generate 8 new jobs and retain 15 existing jobs.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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.

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