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March 29, 2024  
 
 
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Loan Census SBA Loan Info

Borrowing Money for Broilers and Meat Type

Looking for loans for broilers and meat type? Try the SBA. This $680,000 broilers and meat type loan was issued by an Arkansas bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Mena, Arkansas was able to borrow $680,000 from First Financial Bank. The SBA made the loan possible by guaranteeing $510,000 of this Arkansas small business loan.

SBA Loan Borrower

COMPANY TYPE: BROILERS AND MEAT TYPE
MENA, AR 71953

SBA Loan Lender

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

This lender issued this bank loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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

112320 - Broilers and Meat Type

Loan Approval Date

12/23/2003

Loan Approval Gross Amount

$680,000

Loan Approval from the SBA

Of the total $680,000 loan amount, the SBA guaranteed $510,000.

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 3 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

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

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First Financial Bank and they will explain how you can get an SBA loan for your company.

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:

The Friends and Family Network

SBA 7A Banks for El Dorado, Arkansas Loans

Arkansas SBA 7A Lenders