Firm Gets an Arizona Bank Loan

ArizonaSmall business loans are available to Arizona small business owners through the SBA. In this case, a Delaware bank provides the loan.

This company, based in Tucson, 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 Lehman Brothers Bank, Fsb. We've got the inside scoop on this Arizona small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTO AND HOME SUPPLY STORES
TUCSON, AZ 85730

SBA Loan Lender

LEHMAN BROTHERS BANK, FSB
1000 WEST ST, STE 200
WILMINGTON, DE 19801

This lender issued this commercial loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began 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.

SIC Code

5531 - Auto and Home Supply Stores

NAICS Code

441320 - Tire Dealers

Loan Approval Date

12/21/2005

Loan Approval Gross Amount

$506,200

Loan Approval from the SBA

Of the total $506,200 loan amount, the SBA guaranteed $379,650.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 16 employees. The SBA loan application for the borrower did not indicate that the company planned to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Lehman Brothers Bank, Fsb had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Lehman Brothers Bank, Fsb made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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