Stearns Bank Arizona Provides SBA Loan to Buy Fastsigns Franchise

Need money to purchase a Fastsigns franchise? Stearns Bank Arizona has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Fastsigns franchise may simply require a phone call to a local SBA banker. In 2002, Stearns Bank Arizona issued an SBA franchise loan to an entrepreneur in Glendale, Arizona. Because Fastsigns was registered with the SBA's registry of franchises, this Arizona small business loan was issued on an expedited basis.

SBA Loan Borrower

FASTSIGNS
GLENDALE, AZ 85021

SBA Loan Lender

STEARNS BANK ARIZONA
9225 E SHEA BLVD
SCOTTSDALE, AZ 85260

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

453998 - Store Retailers

Loan Approval Date

2/22/2002

Loan Approval Gross Amount

$163,000

Loan Approval from the SBA

Of the total $163,000 loan amount, the SBA guaranteed $122,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Fastsigns franchise. At the time of the loan, the company had 5 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 4 existing jobs.

Getting an SBA Loan For Your Business

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

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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