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November 21, 2024 |
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| Home > Small Business Lenders by State > Arizona Business Loan Sources > Santa Barbara, Business Loans > Pacific Cap. Bank Santa Barbara Business Loans > Masonry Contractors Loan | ||||
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SBA Lenders in Arizona
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Queen Creek (rittenhouse), Arizona Business Gets SBA-Guaranteed Funding from Pacific Cap. BankPacific Cap. Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Arizona entrepreneur who tapped into the power of SBA loans. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Queen Creek (rittenhouse), Arizona was able to borrow $798,500 from Pacific Cap. Bank. The SBA made the loan possible by guaranteeing $598,875 of this Arizona small business loan. SBA Loan Borrower COMPANY TYPE: MASONRY CONTRACTORS SBA Loan Lender PACIFIC CAP. BANK 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 238140 - Masonry Contractors Loan Approval Date 5/17/2006 Loan Approval Gross Amount $798,500 Loan Approval from the SBA Of the total $798,500 loan amount, the SBA guaranteed $598,875. 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 2 employees. The SBA loan documents indicated that the loan would help retain 2 existing jobs. Next Steps for Getting an SBA Loan Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Pacific Cap. Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Determining Proper Capital Structure for a Business Banks in Santa Barbara, California
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