Phoenix, Arizona Bank Gives SBA Loan to Full-Service Restaurants Company
A Phoenix, Arizona small business loan can be yours. Learn how a business got a $350,000 business loan from this Arizona bank.
This loan to an entrepreneur is a good example of an SBA loan. Bnc National Bank made the loan and the SBA guaranteed a portion of the loan. Many other North Dakota entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.
SBA Loan Borrower
COMPANY TYPE: FULL-SERVICE RESTAURANTS
BISMARCK, ND 58504
SBA Loan Lender
BNC NATIONAL BANK
2425 E CAMELBACK RD, STE 100
PHOENIX, AZ 85016
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
722110 - Full-Service Restaurants
Loan Approval Date
12/30/2005
Loan Approval Gross Amount
$350,000
Loan Approval from the SBA
Of the total $350,000 loan amount, the SBA guaranteed $175,000.
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 35 employees. The loan application indicated that the loan would help retain 35 existing jobs.
Getting an SBA Loan For Your Business
SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.
The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bnc National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bnc National 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:
Getting a Small Business Loan
Who Lends Money to Small Businesses in Phoenix, Arizona
SBA Participating Banks in Arizona