Scottsdale is a city in the eastern part of Maricopa County, Arizona, United States, part of the Greater Phoenix Area. Named Scottsdale in 1894 after its founder Winfield Scott, a retired U.S. Army chaplain, the city was incorporated in 1951 with a population of 2,000. The 2015 population of the city is estimated to be 236,839 according to the U.S. Census Bureau.
The New York Times described downtown Scottsdale as "a desert version of Miami's South Beach" and as having "plenty of late night partying and a buzzing hotel scene". Its slogan is "The West's Most Western Town". Scottsdale, 31 miles long and 11.4 miles wide at its widest point, shares boundaries with many other municipalities and entities. On the west, Scottsdale is bordered by Phoenix, Paradise Valley and unincorporated Maricopa County land. Carefree is located along the western boundary, as well as sharing Scottsdale's northern boundary with the Tonto National Forest. To the south Scottsdale is bordered by Tempe. The southern boundary is also adjacent to the Salt River Pima-Maricopa Indian Community.
The economy of Scottsdale is largely composed of tourism and retail, which account for a large percentage of the city's sales tax revenue. The city also has a large number of financial and business service companies. The city is home to the headquarters of three major banks: JPMorgan Chase, Wells Fargo, and Bank of America. Scottsdale also has a large number of small businesses, many of which are located in the Old Town Scottsdale area.
Comparing SBA loan types in Scottsdale
Three SBA programs come up most often for Scottsdale, Arizona businesses, and they do different jobs.
Small business loans available in Scottsdale
An SBA 7(a) loan made to a Scottsdale, Arizona business is made by a participating lender, not by the SBA. The lender underwrites it, sets the rate within the SBA maximum, and services it. What varies locally is which lenders are active, not the program rules.
Common uses here are the same as everywhere: working capital, equipment, owner-occupied commercial real estate, refinancing business debt, and buying an existing business.
Insurance and closing
Most SBA lenders require hazard and, where the collateral is real property, property insurance in place before closing. See commercial property insurance for businesses and ways to ensure your SBA loan closes smoothly.
Getting started in Scottsdale
Check the eligibility requirements, run the numbers with the SBA 7(a) loan calculator, then get financing and we will route your inquiry to lending partners.