Siloam Springs, Arkansas Lender Lends Money to Broilers And Meat Type Company
Thinking about meeting with a Siloam Springs, Arkansas bank about an SBA loan? Here's one Arkansas business loan, issued by a Siloam Springs bank, that was approved by the SBA.
Applying for an SBA loan with Arvest Bank worked out well for our friends at one local business in Gravette, Arkansas. They received an SBA loan for $1,813,000. Way to go!
SBA Loan Borrower
COMPANY TYPE: BROILERS AND MEAT TYPE
GRAVETTE, AR 72736
SBA Loan Lender
ARVEST BANK
1645 HWY 412 WEST
SILOAM SPRINGS, AR 72761
This loan for a small business was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
112320 - Broilers and Meat Type
Loan Approval Date
9/27/2004
Loan Approval Gross Amount
$1,813,000
Loan Approval from the SBA
Of the total $1,813,000 loan amount, the SBA guaranteed $1,359,750.
More Information on This SBA Loan
The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had 2 employees. The SBA loan documents did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.
Next Steps for Getting an SBA Loan
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 an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Arvest Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.
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:
The Art of Bootstrapping
Small Bank Loans in Siloam Springs, Arkansas
SBA Lenders in Arkansas