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November 14, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Scottsdale, Business Loans > First National Bank Of Arizona Scottsdale Business Loans > Industrial Supplies Merchant Wholesalers Loan | ||||
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We Needed a Business Loan in Houston, Texas and We Got One!
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Industrial Supplies Merchant Wholesalers Business LoansLooking for business loans for industrial supplies merchant wholesalers? An SBA loan may be just what you've been looking for. This $494,000 industrial supplies merchant wholesalers loan was issued by an Arizona bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Houston, Texas was able to borrow $494,000 from First National Bank Of Arizona. The SBA made the loan possible by guaranteeing $370,500 of this Texas small business loan. SBA Loan Borrower COMPANY TYPE: INDUSTRIAL SUPPLIES MERCHANT WHOLESALERS SBA Loan Lender FIRST NATIONAL BANK OF ARIZONA Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 423840 - Industrial Supplies Merchant Wholesalers Loan Approval Date 7/2/2007 Loan Approval Gross Amount $494,000 Loan Approval from the SBA Of the total $494,000 loan amount, the SBA guaranteed $370,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower indicated that the loan would help retain 3 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. 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:
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