Arizona Bank Loan Issued to Mobile Food Services Company

Bank loans in Arizona are hard to find these days. We take a look at one Arizona bank loan, provided by a Wisconsin bank, that was approved by the SBA.

Getting a small business loan in Queen Creek, Arizona was a top priority for this loan applicant back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Ridgestone Bank. Here are the details on this Arizona small business loan.

SBA Loan Borrower

COMPANY TYPE: MOBILE FOOD SERVICES
QUEEN CREEK, AZ 85242

SBA Loan Lender

RIDGESTONE BANK
13925 W NORTH AVE
BROOKFIELD, WI 53005

This lender issued this small business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722330 - Mobile Food Services

Loan Approval Date

8/3/2007

Loan Approval Gross Amount

$180,000

Loan Approval from the SBA

Of the total $180,000 loan amount, the SBA guaranteed $135,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. This SBA loan request indicated that the loan would help retain 4 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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