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April 26, 2024 |
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| Home > Small Business Lenders by State > Arkansas Business Loan Sources > Jonesboro, Business Loans > Liberty Bank Of Arkansas Jonesboro Business Loans > Computer Programming Services Loan | ||||
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How to Get SBA Loans in Jonesboro, Arkansas
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Custom Computer Programming Services Commercial LoansLooking for commercial loans for custom computer programming services? Talk to a banker who works with the SBA. This $95,000 custom computer programming services loan was issued by an Arkansas bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Jonesboro, Arkansas was able to borrow $95,000 from Liberty Bank Of Arkansas. The SBA made the loan possible by guaranteeing $76,000 of this Arkansas small business loan. SBA Loan Borrower COMPANY TYPE: COMPUTER PROGRAMMING SERVICES SBA Loan Lender LIBERTY BANK OF ARKANSAS This lender issued this particular debt financing under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7371 - Computer Programming Services NAICS Code 541511 - Custom Computer Programming Services Loan Approval Date 6/27/2000 Loan Approval Gross Amount $95,000 Loan Approval from the SBA Of the total $95,000 loan amount, the SBA guaranteed $76,000. 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 2 employees. The SBA loan application for the borrower did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business If you are wondering how to raise money for a business in Jonesboro AR, you ought to talk with a local Jonesboro SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Jonesboro businesses. 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: Best Banks for Small Business in Jonesboro, Arkansas
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