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December 21, 2024 |
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| Home > Small Business Lenders by State > Arizona Business Loan Sources > St. Louis, Business Loans > Ge Cap. Small Business Finan Corp St. Louis Business Loans > Automobiles And Other Motor Vehicles Loan | ||||
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Getting an SBA 7A Loan in Phoenix, Arizona
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Ge Cap. Small Business Finan Corp Gives SBA Loan to Automobiles And Other Motor Vehicles CompanyArizonaSmall business loans are available to Arizona small business owners through the SBA. In this case, a Missouri bank provides the loan. By giving the right information to Ge Cap. Small Business Finan Corp, this Phoenix, Arizona business was able to get an SBA loan. To get this loan, the loan applicant gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: AUTOMOBILES AND OTHER MOTOR VEHICLES SBA Loan Lender GE CAP. SMALL BUSINESS FINAN CORP 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. SIC Code 5012 - Automobiles and Other Motor Vehicles NAICS Code 421110 - Automobile and Motor Vehicle Wholesalers Loan Approval Date 1/11/2000 Loan Approval Gross Amount $675,000 Loan Approval from the SBA Of the total $675,000 loan amount, the SBA guaranteed $506,250. 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 33 employees. This SBA loan request indicated that the loan would help generate 33 new jobs and retain 33 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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 - How to Decide How Much to Raise Small Bank Loans in St. Louis, Missouri
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