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April 20, 2024 |
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| Home > Small Business Lenders by State > Arkansas Business Loan Sources > Russellville, Business Loans > Simmons 1st Bank - Russellville Russellville Business Loans > Commercial And Industrial Machinery And Equipment Rental And Leasing Loan | ||||
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How to Get a Business Loan in Plainview, Arkansas
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Arkansas Business Loan Issued to Commercial And Industrial Machinery And Equipment Rental And Leasing CompanyArkansasBank loans are available to Arkansas firms through the SBA. In this case, an Arkansas bank provides the loan. This business, based in Plainview, Arkansas, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Simmons 1st Bank - Russellville. We've got the inside scoop on this Arkansas small business loan. SBA Loan Borrower COMPANY TYPE: COMMERCIAL AND INDUSTRIAL MACHINERY AND EQUIPMENT RENTAL AND LEASING SBA Loan Lender SIMMONS 1ST BANK - RUSSELLVILLE This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 532490 - Commercial and Industrial Machinery and Equipment Rental and Leasing Loan Approval Date 2/15/2006 Loan Approval Gross Amount $46,000 Loan Approval from the SBA Of the total $46,000 loan amount, the SBA guaranteed $23,000. 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 loan application indicated that the loan would help retain 3 existing jobs. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Simmons 1st Bank - Russellville had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Simmons 1st Bank - Russellville made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Small Bank Loans in Russellville, Arkansas
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