Arizona SBA Loan Issued to Boat Dealers Company
ArizonaSmall business loans are available to Arizona small business owners through the SBA. In this case, an Alabama bank provides the loan.
You can learn something about getting a small business loan in Phoenix, Arizona by studying this loan to a local company, made back in 2003. Banks like Compass Bank may also be willing to lend to you, given that they granted this small business loan.
SBA Loan Borrower
COMPANY TYPE: BOAT DEALERS
PHOENIX, AZ 85019
SBA Loan Lender
COMPASS BANK
15 S 20TH ST
BIRMINGHAM, AL 35233
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
441222 - Boat Dealers
Loan Approval Date
2/5/2003
Loan Approval Gross Amount
$167,000
Loan Approval from the SBA
Of the total $167,000 loan amount, the SBA guaranteed $125,250.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company
had 3 employees. The loan application indicated that the loan would help retain 3 existing jobs.
Next Steps for Getting an SBA Loan
SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.
Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $167,000 loan. Remember, things become real when you believe you can achieve them!
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:
Understanding Dilution
SBA Banks in Birmingham, Alabama
Getting a Business Loan in Alabama