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December 22, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Phoenix, Business Loans > Sunrise Bank Of Arizona Phoenix Business Loans > Furniture Stores Loan | ||||
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Sunrise Bank Of Arizona Business Loan Encinitas, California
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Encinitas, California Business Gets SBA-Guaranteed Funding from Sunrise Bank Of ArizonaSunrise Bank Of Arizona and the SBA work together to get business loans for growing small businesses. Here's an example of how a California entrepreneur was able to get a loan to take a small business to the next level. This small firm knew how to go about getting a business bank loan. Based in Encinitas, California, they applied for and received an SBA-guaranteed loan in 2001. The lending bank was Sunrise Bank Of Arizona, based in Phoenix, Arizona. SBA Loan Borrower COMPANY TYPE: FURNITURE STORES SBA Loan Lender SUNRISE BANK OF ARIZONA This bank loan was issued under the SBA's Certified Lenders Program (CLP), which means that the lender has a successful SBA lending track record and a thorough understanding of SBA loan requirements. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5712 - Furniture Stores NAICS Code 442110 - Furniture Stores Loan Approval Date 8/29/2001 Loan Approval Gross Amount $310,600 Loan Approval from the SBA Of the total $310,600 loan amount, the SBA guaranteed $232,950. 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 8 employees. The SBA loan documents did not indicate that the small business planned to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. 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: Obtaining Funding From a Venture Capitalist Find an SBA Lender in Phoenix, Arizona Where to Get an SBA Loan Arizona
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