Company Gets an Arizona Bank Loan

Looking to get an Arizona SBA loan? This Arizona entrepreneur got an SBA loan, provided by an Arizona bank that works with the SBA to help small business owners.

This company, based in Sun Lakes, Arizona, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from First National Bank Of Arizona. We've got the inside scoop on this Arizona small business loan.

SBA Loan Borrower

COMPANY TYPE: PHYSICIANS
SUN LAKES, AZ 85248

SBA Loan Lender

FIRST NATIONAL BANK OF ARIZONA
17600 N PERIMETER DR
SCOTTSDALE, AZ 85255

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

621111 - Physicians

Loan Approval Date

5/2/2007

Loan Approval Gross Amount

$1,361,800

Loan Approval from the SBA

Of the total $1,361,800 loan amount, the SBA guaranteed $1,021,350.

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 only one employee. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 1 existing job.

Next Steps for Getting an SBA Loan

Although it's called an SBA loan, you 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 First National Bank Of Arizona 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:

Business Line of Credit

Small Bank Loans in Scottsdale, Arizona

Where to Get an SBA Loan Arizona