Arkansas SBA Loan Issued to Broilers And Meat Type Company

SBA loans in Arkansas are are few and far betweeen these days. We take a look at one Arkansas SBA loan, provided by an Arkansas bank, that was approved by the SBA.

Getting a small business loan in Lincoln, Arkansas was a top priority for this particular business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from First Financial Bank. Here are the details on this Arkansas small business loan.

SBA Loan Borrower

COMPANY TYPE: BROILERS AND MEAT TYPE
LINCOLN, AR 72744

SBA Loan Lender

FIRST FINANCIAL BANK
2646 E JOYCE BLVD, STE 2
FAYETTEVILLE, AR 72703

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

112320 - Broilers and Meat Type

Loan Approval Date

7/12/2002

Loan Approval Gross Amount

$1,087,000

Loan Approval from the SBA

Of the total $1,087,000 loan amount, the SBA guaranteed $815,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds 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.

We can help you find the best banks for small businesses in Lincoln or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

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SBA Participating Banks in Fayetteville, Arkansas

Getting an SBA Loan in Arkansas