Entrepreneur Works With Russellville, Arkansas Bank to Get an SBA Loan

Get to know Russellville, Arkansas banks that specialize in SBA loans and know how to work with entrepreneurs. Simmons 1st Bank - Russellville is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Russellville, Arkansas starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from Simmons 1st Bank - Russellville. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: RV PARKS AND CAMPGROUNDS
RUSSELLVILLE, AR 72802

SBA Loan Lender

SIMMONS 1ST BANK - RUSSELLVILLE
800 N ARKANSAS
RUSSELLVILLE, AR 72801

The lender provided this small business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

721211 - RV Parks and Campgrounds

Loan Approval Date

5/25/2005

Loan Approval Gross Amount

$185,000

Loan Approval from the SBA

Of the total $185,000 loan amount, the SBA guaranteed $92,500.

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 only one employee. This SBA loan request indicated that the borrowed money would help create 1 new job.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $185,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Getting a Small Business Loan

Who Lends Money to Small Businesses in Russellville, Arkansas

Arkansas SBA Bank Lenders