Financing for Office Machinery and Equipment Rental and Leasing

Looking for commercial loans for office machinery and equipment rental and leasing? Try the SBA. This $1,230,100 office machinery and equipment rental and leasing loan was issued by an Arizona bank.

This small business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Wells Fargo Bank, out of Phoenix, Arizona. The loan was granted and they received $1,230,100 to help grow their Phoenix, Arizona business.

SBA Loan Borrower

COMPANY TYPE: OFFICE MACHINERY AND EQUIPMENT RENTAL AND LEASING
PHOENIX, AZ 85034

SBA Loan Lender

WELLS FARGO BANK
100 W WASHINGTON ST
PHOENIX, AZ 85003

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

532420 - Office Machinery and Equipment Rental and Leasing

Loan Approval Date

2/14/2001

Loan Approval Gross Amount

$1,230,100

Loan Approval from the SBA

Of the total $1,230,100 loan amount, the SBA guaranteed $922,575.

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 60 employees. The SBA loan documents indicated that the loan would help generate 10 new jobs and retain 60 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

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.

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