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November 14, 2024 |
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| Home > Small Business Lenders by State > Arizona Business Loan Sources > Scottsdale, Business Loans > Copper Star Bank Scottsdale Business Loans > Drycleaning And Laundry Services Loan | ||||
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SBA Lender Scottsdale
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Scottsdale, Arizona Business Gets SBA-Guaranteed Funding from Copper Star BankCopper Star Bank has a track record as a leading provider of SBA loans. Find out how this Arizona entrepreneur received an SBA loan from them. This small firm knew how to go about getting a business bank loan. Based in Scottsdale, Arizona, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Copper Star Bank, based in Scottsdale, Arizona. SBA Loan Borrower COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES SBA Loan Lender COPPER STAR BANK This lender issued this particular SBA bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812320 - Drycleaning and Laundry Services Loan Approval Date 3/8/2002 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $63,750. 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 5 employees. The loan application did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? If you are wondering how to raise money for a company in Scottsdale AZ, you ought to talk with a local Scottsdale SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Scottsdale businesses. 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. Related Links: Obtaining Funding From a Venture Capitalist SBA 7A Lenders in Scottsdale, Arizona
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