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April 25, 2024 |
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| Home > Small Business Lenders by State > Arkansas Business Loan Sources > Fort Smith, Business Loans > Arvest Bank Fort Smith Business Loans > Specialty Trade Contractors Loan | ||||
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How to Get a Loan for Specialty Trade ContractorsWith these commercial loans for specialty trade contractors, the SBA guarantees the lender that the loan will be repaid. This specialty trade contractors loan for $405,500 was given to an Arkansas entrepreneur in 2007. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Barling, Arkansas was able to borrow $405,500 from Arvest Bank. The SBA made the loan possible by guaranteeing $304,125 of this Arkansas small business loan. SBA Loan Borrower COMPANY TYPE: SPECIALTY TRADE CONTRACTORS SBA Loan Lender ARVEST BANK The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 238990 - Specialty Trade Contractors Loan Approval Date 8/22/2007 Loan Approval Gross Amount $405,500 Loan Approval from the SBA Of the total $405,500 loan amount, the SBA guaranteed $304,125. 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 6 employees. This SBA loan request indicated that the loan would help retain 6 existing jobs. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Obtaining Funding - Getting Venture Capital Small Business Banks in Fort Smith, Arkansas
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