Arizona Bank Loan Issued to Electronic And Precision Equipment Repair And Maintenance Company

Would an Arizona small business loan help your small business to grow and prosper? If so, you may want to talk with this Ohio bank, which offers SBA loans to Arizona entrepreneurs.

Getting a small business loan in Gilbert, Arizona was a top priority for this small company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from U.S. Bank National Association. Here are the details on this Arizona small business loan.

SBA Loan Borrower

COMPANY TYPE: ELECTRONIC AND PRECISION EQUIPMENT REPAIR AND MAINTENANCE
GILBERT, AZ 85233

SBA Loan Lender

U.S. BANK NATIONAL ASSOCIATION
425 WALNUT ST
CINCINNATI, OH 45202

This lender provides SBA small business loans 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

811219 - Electronic and Precision Equipment Repair and Maintenance

Loan Approval Date

2/12/2002

Loan Approval Gross Amount

$967,000

Loan Approval from the SBA

Of the total $967,000 loan amount, the SBA guaranteed $725,250.

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 11 employees. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 8 existing jobs.

Next Steps for Getting an SBA Loan

Don't apply for a loan directly with the SBA. You need to 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.

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.

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