Harrison, Arkansas Business Gets SBA-Guaranteed Funding from Community First Bank

An SBA loan from Community First Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Harrison, Arkansas business owner got a $45,000 loan.

This growing company knew how to go about getting a business bank loan. Based in Harrison, Arkansas, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was Community First Bank, based in Harrison, Arkansas.

SBA Loan Borrower

COMPANY TYPE: MEN'S AND BOYS' CUT AND SEW SUIT, COAT, AND OVERCOAT MANUFACTURING
HARRISON, AR 72601

SBA Loan Lender

COMMUNITY FIRST BANK
200 E RIDGE
HARRISON, AR 72601

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

315222 - Men's and Boys' Cut and Sew Suit, Coat, and Overcoat Manufacturing

Loan Approval Date

4/23/2003

Loan Approval Gross Amount

$45,000

Loan Approval from the SBA

Of the total $45,000 loan amount, the SBA guaranteed $38,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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. This SBA loan request did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $45,000 loan. Remember, anyone can do it... so why not 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.

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