Firm Gets an Arizona Bank Loan

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

Getting a small business loan in Scottsdale, Arizona was a top priority for this small company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Parkway Bank Arizona. Here are the details on this Arizona small business loan.

SBA Loan Borrower

COMPANY TYPE: HOME FURNISHINGS STORES
SCOTTSDALE, AZ 85262

SBA Loan Lender

PARKWAY BANK ARIZONA
6300 E CAVE CREEK RD
CAVE CREEK, AZ 85331

This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

442299 - Home Furnishings Stores

Loan Approval Date

3/20/2002

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 10 employees. This SBA loan request did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Parkway Bank Arizona so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

The Art of Bootstrapping

Where to Get an SBA Loan in Cave Creek, Arizona

SBA Arizona Lenders