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April 20, 2024 |
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| Home > Small Business Lenders by State > Arkansas Business Loan Sources > Conway, Business Loans > First State Bank Conway Business Loans > Physicians Loan | ||||
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Getting an SBA 7A Loan in Mountain View, Arkansas
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Local Business Gets an Arkansas Small Business LoanWould an Arkansas business loan help your company expand? If so, you may want to talk with this Arkansas bank, which offers SBA loans to Arkansas entrepreneurs. Getting a small business loan in Mountain View, Arkansas was a top priority for this SBA-financed company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from First State Bank. Here are the details on this Arkansas small business loan. SBA Loan Borrower COMPANY TYPE: PHYSICIANS SBA Loan Lender FIRST STATE 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. NAICS Code 621111 - Physicians Loan Approval Date 1/21/2003 Loan Approval Gross Amount $95,000 Loan Approval from the SBA Of the total $95,000 loan amount, the SBA guaranteed $80,750. 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 3 employees. The SBA loan application for the borrower did not indicate that the company promised to use the money to add 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. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into First State Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: SBA Participating Banks in Conway, Arkansas
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