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April 24, 2024 |
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| Home > Small Business Lenders by State > Arkansas Business Loan Sources > Batesville, Business Loans > First Community Bank Batesville Business Loans > Logging Loan | ||||
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Baesville, Arkansas Bank for SBA Loans
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Baesville, Arkansas Entrepreneur Gets a Small Business LoanArkansasSmall business loans are available to Arkansas small business owners through the SBA. In this case, an Arkansas bank provides the loan. This company, based in Baesville, 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 First Community Bank. We've got the inside scoop on this Arkansas small business loan. SBA Loan Borrower COMPANY TYPE: LOGGING SBA Loan Lender FIRST COMMUNITY BANK This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 2411 - Logging NAICS Code 113310 - Logging Loan Approval Date 8/24/2000 Loan Approval Gross Amount $73,600 Loan Approval from the SBA Of the total $73,600 loan amount, the SBA guaranteed $58,880. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The loan application did not indicate that the company planned to use the funding to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business 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. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $73,600 loan. Remember, you control your own destiny. 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: Microlending as a Small Business Funding Source Who Lends Money to Small Businesses in Batesville, Arkansas
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