Arizona SBA Loan Issued to Textile Machinery Company

SBA loans in Arizona are are few and far betweeen these days. We take a look at one Arizona SBA loan, provided by a Nevada bank, that was approved by the SBA.

You can learn something about getting a small business loan in Littlefield, Arizona by studying this loan to a local business, made back in 2000. Banks like Bank Of Nevada may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: TEXTILE MACHINERY
LITTLEFIELD, AZ 86432

SBA Loan Lender

BANK OF NEVADA
11 PIONEER BLVD
MESQUITE, NV 89027

This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3552 - Textile Machinery

NAICS Code

333292 - Textile Machinery Manufacturing

Loan Approval Date

8/15/2000

Loan Approval Gross Amount

$30,900

Loan Approval from the SBA

Of the total $30,900 loan amount, the SBA guaranteed $24,720.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 2 employees. The SBA loan documents did not indicate that the company planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Bank Of Nevada that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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