Business Loan from Stearns Bank Arizona Given to Car Washes Company

Stearns Bank Arizona has a track record as a leading provider of SBA loans. Find out how this Arizona entrepreneur received an SBA loan from them.

Getting a small business loan in Cottonwood, Arizona was an essential business goal for this firm back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Stearns Bank Arizona, operating out of Scottsdale, Arizona. Here are the details on this Arizona small business loan.

SBA Loan Borrower

COMPANY TYPE: CAR WASHES
COTTONWOOD, AZ 86325

SBA Loan Lender

STEARNS BANK ARIZONA
9225 E SHEA BLVD
SCOTTSDALE, AZ 85260

This lender provides SBA loan for small businesses 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

811192 - Car Washes

Loan Approval Date

6/3/2004

Loan Approval Gross Amount

$1,405,825

Loan Approval from the SBA

Of the total $1,405,825 loan amount, the SBA guaranteed $1,054,369.

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 15 employees. The SBA loan documents indicated that the borrowed money would help generate 15 new jobs.

Great, But How Can I Get an SBA Loan for My Business?

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.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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.

Related Links:

Advice on Getting a Small Business Loan

Best Scottsdale, Arizona Banks for Small Business

Arizona SBA Bank Lenders