Borrowing Money for Prerecorded Tape, Compact Disc, and Record Stores
With these loans for prerecorded tape, compact disc, and record stores, the SBA guarantees the lender that the loan will be repaid. This prerecorded tape, compact disc, and record stores loan for $18,500 was given to an Arkansas entrepreneur in 2002.
Getting a small business loan in Jonesboro, Arkansas was important for this company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Simmons 1st Bank - Jonesboro, operating out of Jonesboro, Arkansas. Here are the details on this Arkansas small business loan.
SBA Loan Borrower
COMPANY TYPE: PRERECORDED TAPE, COMPACT DISC, AND RECORD STORES
JONESBORO, AR 72403
SBA Loan Lender
SIMMONS 1ST BANK - JONESBORO
1720 S CARAWAY RD
JONESBORO, AR 72401
The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide business loans to to entrepreneurs who might have trouble getting a conventional bank loan.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
451220 - Prerecorded Tape, Compact Disc, and Record Stores
Loan Approval Date
11/26/2002
Loan Approval Gross Amount
$18,500
Loan Approval from the SBA
Of the total $18,500 loan amount, the SBA guaranteed $15,725.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company
had 5 employees. The loan application did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.
Next Steps for Getting an SBA Loan
Every year, the SBA guarantees over $10 billion for loans just like this one.
If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Simmons 1st Bank - Jonesboro so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.
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:
Business Incubators
SBA Participating Banks in Jonesboro, Arkansas
SBA Lenders in Arkansas