First Bank - Delta SBA Loan to Individual And Family Social Services Company

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

This small business needed an SBA business loan in Helena, Arkansas back in 2000 and, after submitting their loan application, they were successful in getting an SBA loan from First Bank - Delta, operating out of West Helena, Arkansas. Here are the details on this Arkansas small business loan.

SBA Loan Borrower

COMPANY TYPE: INDIVIDUAL AND FAMILY SOCIAL SERVICES
HELENA, AR 72342

SBA Loan Lender

FIRST BANK - DELTA
425 E PLAZA ST
WEST HELENA, AR 72390

This lender issued this loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8322 - Individual and Family Social Services

Loan Approval Date

9/5/2000

Loan Approval Gross Amount

$86,325

Loan Approval from the SBA

Of the total $86,325 loan amount, the SBA guaranteed $69,060.

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 5 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Don't apply for a loan directly with the SBA. You need to 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.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Obtaining Funding - Friends and Family

Best Banks for Small Business in West Helena, Arkansas

Getting an SBA Loan in Arkansas