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June 16, 2021  
 
 
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Arkansas Bank SBA Loans

 

 
Loan Census SBA Loan Info

Citizens State Bank SBA Loan to General Contracting For Residential Buildings Company

Searching for an Arkansas SBA loan? Here's one Arkansas business loan that was approved by the SBA.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Bradford, Arkansas was able to borrow $50,000 from Citizens State Bank. The SBA made the loan possible by guaranteeing $40,000 of this Arkansas small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL CONTRACTING FOR RESIDENTIAL BUILDINGS
BRADFORD, AR 72020

SBA Loan Lender

CITIZENS STATE BANK
306 S ELM ST
BALD KNOB, AR 72010

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1522 - General Contracting for Residential Buildings

Loan Approval Date

1/25/2000

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $40,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 6 employees. The SBA loan documents did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Citizens State Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

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SBA Banks in Bald Knob, Arkansas

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