Stearns Bank Arizona SBA Loan to Motor Vehicle Supplies And New Parts Merchant Wholesalers Company

An SBA loan from Stearns Bank Arizona typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Scottsdale, Arizona business owner got a $238,500 loan.

Getting a small business loan in Scottsdale, Arizona was an essential business goal for this small business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Stearns Bank Arizona, operating out of Scottsdale, Arizona. Here are the details on this Arizona small business loan.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE SUPPLIES AND NEW PARTS MERCHANT WHOLESALERS
SCOTTSDALE, AZ 85255

SBA Loan Lender

STEARNS BANK ARIZONA
9225 E SHEA BLVD
SCOTTSDALE, AZ 85260

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

423120 - Motor Vehicle Supplies and New Parts Merchant Wholesalers

Loan Approval Date

8/8/2003

Loan Approval Gross Amount

$238,500

Loan Approval from the SBA

Of the total $238,500 loan amount, the SBA guaranteed $178,875.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help retain 2 existing jobs.

Next Steps for Getting an SBA Loan

If you need business start up money 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.

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