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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 > Prerecorded Tape, Compact Disc, And Record Stores Loan | ||||
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Requirements for Small Business Owners On Getting a Loan
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Borrowing Money for Prerecorded Tape, Compact Disc, and Record StoresWith these loans for prerecorded tape, compact disc, and record stores, the SBA guarantees the lender that the loan will be repaid. This prerecorded tape, compact disc, and record stores loan for $18,500 was given to an Arkansas entrepreneur in 2002. Getting a small business loan in Jonesboro, Arkansas was important for this company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Simmons 1st Bank - Jonesboro, operating out of Jonesboro, Arkansas. Here are the details on this Arkansas small business loan. SBA Loan Borrower COMPANY TYPE: PRERECORDED TAPE, COMPACT DISC, AND RECORD 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 business 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 451220 - Prerecorded Tape, Compact Disc, and Record Stores Loan Approval Date 11/26/2002 Loan Approval Gross Amount $18,500 Loan Approval from the SBA Of the total $18,500 loan amount, the SBA guaranteed $15,725. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The loan application did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Simmons 1st Bank - Jonesboro so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: SBA Participating Banks in Jonesboro, Arkansas
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