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April 20, 2024 |
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| Home > Small Business Lenders by State > Arkansas Business Loan Sources > Caraway, Business Loans > Heritage Bank Caraway Business Loans > Trucking Loan | ||||
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Small Business Banks for Businesses in Arkansas
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Arkansas SBA Loan Issued to Trucking CompanyArkansasBusiness loans are available to Arkansas business owners through the SBA. In this case, an Arkansas bank provides the loan. By giving the right information to Heritage Bank, this Manila, Arkansas business was able to get an SBA loan. To get this loan, the business owner gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: TRUCKING SBA Loan Lender HERITAGE BANK 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. SIC Code 4213 - Trucking Loan Approval Date 5/18/2000 Loan Approval Gross Amount $24,000 Loan Approval from the SBA Of the total $24,000 loan amount, the SBA guaranteed $19,200. 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 only one employee. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. We can help you find the best banks for small businesses in Manila 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: Good Banks for Small Business in Caraway, Arkansas Where to Get an SBA Loan Arkansas
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