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April 18, 2024 |
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| Home > Small Business Lenders by State > Arkansas Business Loan Sources > Jonesboro, Business Loans > Simmons 1st Bank - Jonesboro Jonesboro Business Loans > Clothing Stores Loan | ||||
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Requirements for Businesses On Getting a Loan
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Financing for Clothing StoresLooking for commercial loans for clothing stores? Try the SBA. This $115,000 clothing stores loan was issued by an Arkansas bank. This small business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Simmons 1st Bank - Jonesboro, out of Jonesboro, Arkansas. The loan was granted and they received $115,000 to help grow their Jonesboro, Arkansas business. SBA Loan Borrower COMPANY TYPE: CLOTHING STORES SBA Loan Lender SIMMONS 1ST BANK - JONESBORO The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 448190 - Clothing Stores Loan Approval Date 6/17/2003 Loan Approval Gross Amount $115,000 Loan Approval from the SBA Of the total $115,000 loan amount, the SBA guaranteed $97,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees. Getting an SBA Loan For Your Business SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. We've showcased information on this loan to let you know that businesses like yours 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: Best Banks in Jonesboro, Arkansas
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