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April 25, 2024 |
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| Home > Small Business Lenders by State > Arkansas Business Loan Sources > Arkadelphia, Business Loans > Summit Bank Arkadelphia Business Loans > Family Clothing Stores Loan | ||||
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Banks in Arkansas
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Family Clothing Stores SBA LoansWith these SBA loans for family clothing stores, the SBA guarantees the lender that the loan will be repaid. This family clothing stores loan for $31,000 was given to an Arkansas entrepreneur in 2004. This small business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Summit Bank, out of Arkadelphia, Arkansas. The loan was granted and they received $31,000 to help grow their Arkadelphia, Arkansas business. SBA Loan Borrower COMPANY TYPE: FAMILY CLOTHING STORES SBA Loan Lender SUMMIT BANK This SBA bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 448140 - Family Clothing Stores Loan Approval Date 8/19/2004 Loan Approval Gross Amount $31,000 Loan Approval from the SBA Of the total $31,000 loan amount, the SBA guaranteed $26,350. More Information on This SBA Loan The borrower borrowed this money for an existing 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 planned to use the loan proceeds to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: How Much Venture Capital Is There? Small Bank Loans in Arkadelphia, Arkansas
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