On May 1, 2019, Arizona was officially recognized by the Bureau of Economic Analysis as the fourth fastest growing state in the country with a GDP higher than California and Texas. If it wasn’t for the low cost of doing business and affordable lending environment, businesses would have a difficult time expanding. Throughout 2018, National Bank of Arizona® noticed an increase in business confidence followed by a higher demand for working capital loans and commercial real estate loans. Manufacturing, real estate and construction-focused businesses shortly became top borrowers. The trend continues this year with strong lending numbers and developments, which in turn, fuel our state’s economic environment.
 

We support businesses and the community they operate in.

The NB|AZ Business Banking team has helped various companies in multiple industries. We understand that the customer’s perspective comes first. We recommend learning the business life cycle, economic climate and competition. For this reason, we created a cheat sheet with all the SBA 7(a) loans requirements and a business loan calculator for payment simulations.  
 

Let’s talk about the SBA NB|AZ Loans

The Guide to your Small Business Lending explains in detail the 7(a) Program owned by the Small Business Administration. National Bank of Arizona is a recognized lender that offers loans and lines of credit1 under this program with a promotional Annual Percentage Rate (APR) and also processes the application. 

 

The SBA 7(a) Standard and Small Loan

The Standard and Small Loan offers enough flexibility to purchase another business or (re)finance equipment. Additionally, if the collateral used for the loan has reasonable equity, business owners can take the cash out.

Here is what you need to know before applying for a 7(a) Standard and Small loan:

  • Receive financing up to $5 million
  •  Repayment term up to 120 months (or longer based on the useful life of equipment)
  • 85% SBA guaranty for loans up to $150K
  • 75% SBA guaranty up to $5 million
  • Title search, property appraisal or title registration included in the package
  • Loan costs can be rolled into the loan
  • No prepayment penalty fee

 

The NB|AZ SBA Express Loan

For small businesses that have been in operation for two years, the quickest way to access cash is through the NB|AZ SBA Express Loan for short-term operating capital to support growth.

  • Financing available up to $350K
  • 60-month term
  • Cash available within 36 hours

 

The NB|AZ Express Line of Credit features:

Variable annual percentage rate

  • 60-month term
  • Five year repayment term
  • Minimal finance charges2
  • Money disbursement within 36 hours

 

The NB|AZ SBA 7(a) Owner-Occupied Real Estate

Thinking about buying a duplex or a warehouse? Thinking about tenant improvement projects for investment properties? Or maybe both? The 7(a) Owner-Occupied Real Estate loan checks off all these business goals with proceeds up to $5 million and repayment terms that stretch up to 300 months.

The two major requirements are:

  • The business needs to be a for-profit entity
  • Property must be 51% or more owner-occupied

 

The NB|AZ SBA 7(a) Loan Program Highlights

Working capital, equipment finance, debt refinance and business expansion can become growth challenges. The NB|AZ SBA 7(a) loans and lines of credit are lending alternatives that can help fill in the gaps and move businesses forward. Grow your business with a lifetime fixed rate through our limited time offer. Contact a banker to discuss which loan option best fits your business needs.

 

 

Sources:

https://www.bea.gov/data/gdp/gross-domestic-product

https://www.azcommerce.com/resources/economy/gdp/

https://azgovernor.gov/governor/news/2019/05/new-arizona-ranks-fourth-nation-gdp-growth

https://www.forbes.com/places/az/

https://www.sba7a.loans/using-the-sba-7a-loan-for-land-real-estate-business-mortgage

https://www.sba7a.loans/eligible-and-ineligible-industries

https://www.commercialloandirect.com/SBA-7-a-loans.html




Disclosures

(1) Loans subject to credit approval.  Terms and conditions apply.  See a banker for details.

(2) Starting at $150 package fee for loans under $50k and 1% on loans above $50k.