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April 16, 2024 |
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| Home > Small Business Lenders by State > Arkansas Business Loan Sources > Springdale, Business Loans > Simmons 1st Bank - N.W. Arkansas Springdale Business Loans > Tire Dealers Loan | ||||
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Simmons 1st Bank - N.W. Arkansas
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Fayetteville, Arkansas Business Gets SBA-Guaranteed Funding from Simmons 1st Bank - N.W. ArkansasSimmons 1st Bank - N.W. Arkansas and the SBA work together to get business loans for growing small businesses. Here's an example of how an Arkansas entrepreneur was able to get a loan to take a small business to the next level. This small firm received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Simmons 1st Bank - N.W. Arkansas, out of Springdale, Arkansas. The loan was granted and they received $150,000 to help grow their Fayetteville, Arkansas business. SBA Loan Borrower COMPANY TYPE: TIRE DEALERS SBA Loan Lender SIMMONS 1ST BANK - N.W. ARKANSAS This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 441320 - Tire Dealers Loan Approval Date 9/8/2003 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 5 employees. This SBA loan request did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: A Company That Helps Entrepreneurs Where to Get an SBA Loan in Springdale, Arkansas
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