Loan Census Banking News and Information
January 19, 2021  
 
 
  Business Loan Information  
 

Simmons 1st Bank - So. Arkansas Business Loans Lake Village, AR

 

 
Loan Census SBA Loan Info

Simmons 1st Bank - So. Arkansas SBA Loan to Chiropractors Company

Simmons 1st Bank - So. Arkansas is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Arkansas entrepreneur who tapped into the power of SBA loans.

Getting a small business loan in Lake Village, Arkansas was an essential business goal for this company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Simmons 1st Bank - So. Arkansas, operating out of Lake Village, Arkansas. Here are the details on this Arkansas small business loan.

SBA Loan Borrower

COMPANY TYPE: CHIROPRACTORS
LAKE VILLAGE, AR 71653

SBA Loan Lender

SIMMONS 1ST BANK - SO. ARKANSAS
417 MAIN ST
LAKE VILLAGE, AR 71653

This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

621310 - Chiropractors

Loan Approval Date

9/30/2005

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $21,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the company planned to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Simmons 1st Bank - So. Arkansas that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Raising VC Money for Social Networking Companies

Best Lake Village, Arkansas Banks for Small Business

Browse All Business Loan Sources for Arkansas