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June 16, 2021  
 
 
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Summit Bank

 

 
Loan Census SBA Loan Info

North Little Rock, Arkansas Business Gets SBA-Guaranteed Funding from Summit Bank

An SBA loan from Summit Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a North Little Rock, Arkansas business owner got a $950,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in North Little Rock, Arkansas was able to borrow $950,000 from Summit Bank. The SBA made the loan possible by guaranteeing $712,500 of this Arkansas small business loan.

SBA Loan Borrower

COMPANY TYPE: CONSTRUCTION MATERIAL MERCHANT WHOLESALERS
NORTH LITTLE ROCK, AR 72113

SBA Loan Lender

SUMMIT BANK
11121 N RODNEY PARHAM RD, STE
LITTLE ROCK, AR 72212

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide bank loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

423390 - Construction Material Merchant Wholesalers

Loan Approval Date

6/2/2006

Loan Approval Gross Amount

$950,000

Loan Approval from the SBA

Of the total $950,000 loan amount, the SBA guaranteed $712,500.

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 18 employees. The loan application did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

We can help you find the best banks for small businesses in North Little Rock or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Business Line of Credit

Small Business Banks in Little Rock, Arkansas

Arkansas SBA 7A Lenders