Where to Get Capital for Services for the Elderly and Persons with Disabilities

With these SBA loans for services for the elderly and persons with disabilities, the SBA guarantees the lender that the loan will be repaid. This services for the elderly and persons with disabilities loan for $60,000 was given to an Arkansas entrepreneur in 2003.

Getting a small business loan in Little Rock, Arkansas was important for this small business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Arkansas Capital Corporation, operating out of Little Rock, Arkansas. Here are the details on this Arkansas small business loan.

SBA Loan Borrower

COMPANY TYPE: SERVICES FOR THE ELDERLY AND PERSONS WITH DISABILITIES
LITTLE ROCK, AR 72204

SBA Loan Lender

ARKANSAS CAPITAL CORPORATION
200 S. COMMERCE ST., SUITE 40
LITTLE ROCK, AR 72201

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

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

624120 - Services for the Elderly and Persons with Disabilities

Loan Approval Date

7/18/2003

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $51,000.

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 loan application did not indicate that the company planned to use the money to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you are wondering how to raise money for a business in Little Rock AR, you ought to talk with a local Little Rock SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Little Rock 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:

Getting a Small Business Loan

Best Banks for Small Business in Little Rock, Arkansas

Where to Get an SBA Loan Arkansas