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May 3, 2024 |
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| Home > Small Business Lenders by State > Arkansas Business Loan Sources > Little Rock, Business Loans > Metropolitan National Bank Little Rock Business Loans > Full-Service Restaurants Loan | ||||
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Little Rock, Arkansas Bank Loan
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Arkansas Business Loan Issued to Full-Service Restaurants CompanyArkansasSBA loans are available to Arkansas entrepreneurs through the SBA. In this case, an Arkansas bank provides the loan. By giving the right information to Metropolitan National Bank, this Little Rock, Arkansas business was able to get an SBA loan. To get this loan, the applying company gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender METROPOLITAN NATIONAL BANK This lender issued this loan for a small business under the SBA's 7A loan, 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. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 11/21/2007 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 8 employees. The SBA loan application for the borrower indicated that the loan would help generate 5 new jobs and retain 3 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. 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 Metropolitan National Bank 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 Approved Banks in Little Rock, Arkansas
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