Arizona Business Loan Issued to Photographic Studios, Portrait Company
ArizonaBusiness loans are available to Arizona business owners through the SBA. In this case, a California bank provides the loan.
This business, based in Phoenix, Arizona, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Sterling Savings Bank. We've got the inside scoop on this Arizona small business loan.
SBA Loan Borrower
COMPANY TYPE: PHOTOGRAPHIC STUDIOS, PORTRAIT
PHOENIX, AZ 85008
SBA Loan Lender
STERLING SAVINGS BANK
801 FOURTH ST
SANTA ROSA, CA 95404
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
7221 - Photographic Studios, Portrait
NAICS Code
541921 - Photography Studios, Portrait
Loan Approval Date
3/8/2000
Loan Approval Gross Amount
$122,000
Loan Approval from the SBA
Of the total $122,000 loan amount, the SBA guaranteed $91,500.
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 2 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
If you need money to start a small business or already have a business and need money to expand, an SBA loan can be a great way to raise money
The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Sterling Savings Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Sterling Savings Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.
The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.
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:
Role of Business Plan When Raising Money
Small Bank Loans in Santa Rosa, California
California SBA 7A Banks