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March 28, 2024  
 
 
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Loan Census SBA Loan Info

Business Loan from First Financial Bank Given to Broilers And Meat Type Company

First Financial Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how an Arkansas entrepreneur was able to get a loan to take a small business to the next level.

This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with First Financial Bank, out of El Dorado, Arkansas. The loan was granted and they received $298,000 to help grow their Lincoln, Arkansas business.

SBA Loan Borrower

COMPANY TYPE: BROILERS AND MEAT TYPE
LINCOLN, AR 72744

SBA Loan Lender

FIRST FINANCIAL BANK
214 N WASHINGTON, STE 516
EL DORADO, AR 71730

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

112320 - Broilers and Meat Type

Loan Approval Date

5/17/2004

Loan Approval Gross Amount

$298,000

Loan Approval from the SBA

Of the total $298,000 loan amount, the SBA guaranteed $223,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 documents did not indicate that the company promised to use the funding to hire new employees 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.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Microlending as a Small Business Funding Source

SBA 7A Banks for El Dorado, Arkansas Loans

Getting an SBA Loan in Arkansas