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April 23, 2024 |
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| Home > Small Business Lenders by State > Arkansas Business Loan Sources > Fort Smith, Business Loans > Simmons First National Bank Fort Smith Business Loans > Machine Shops Loan | ||||
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Small Business Banks for Small Businesses in Arkansas
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Arkansas SBA Loan Issued to Machine Shops CompanySBA loans in Arkansas are are few and far betweeen these days. We take a look at one Arkansas SBA loan, provided by an Arkansas bank, that was approved by the SBA. You can learn something about getting a small business loan in Fort Smith, Arkansas by studying this loan to a local business, made back in 2003. Banks like Simmons First National Bank may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: MACHINE SHOPS SBA Loan Lender SIMMONS FIRST NATIONAL BANK The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide debt financing to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 332710 - Machine Shops Loan Approval Date 6/27/2003 Loan Approval Gross Amount $277,141 Loan Approval from the SBA Of the total $277,141 loan amount, the SBA guaranteed $207,856. 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 7 employees. The SBA loan documents did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. While you may be able to find other ways to get money to start a business, 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: Who Lends Money to Small Businesses in Fort Smith, Arkansas
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