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April 19, 2024 |
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| Home > Small Business Lenders by State > Arkansas Business Loan Sources > Green Forest, Business Loans > 1st National Bank In Green Forest Green Forest Business Loans > Hobby, Toy, And Game Shops Loan | ||||
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SBA Lenders That Lend to Arkansas Businesses
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Local Business Gets an Arkansas Bank LoanArkansasBusiness loans are available to Arkansas business owners through the SBA. In this case, an Arkansas bank provides the loan. Getting a small business loan in Rogers, Arkansas was a top priority for this SBA-financed company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from 1st National Bank In Green Forest. Here are the details on this Arkansas small business loan. SBA Loan Borrower COMPANY TYPE: HOBBY, TOY, AND GAME SHOPS SBA Loan Lender 1ST NATIONAL BANK IN GREEN FOREST This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5945 - Hobby, Toy, and Game Shops NAICS Code 451120 - Hobby, Toy, and Game Stores Loan Approval Date 4/28/2000 Loan Approval Gross Amount $77,000 Loan Approval from the SBA Of the total $77,000 loan amount, the SBA guaranteed $61,600. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents 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 SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. 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 1st National Bank In Green Forest 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 7A Banks in Green Forest, Arkansas Browse All Business Loan Sources for Arkansas
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