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April 26, 2024 |
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| Home > Small Business Lenders by State > Arkansas Business Loan Sources > Arkadelphia, Business Loans > Elk Horn Bank & Trust Company Arkadelphia Business Loans > Drycleaning Plants Loan | ||||
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Elk Horn Bank & Trust Company
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SBA Loan from Elk Horn Bank & Trust Company Helps Drycleaning Plants CompanyAn SBA loan from Elk Horn Bank & Trust Company typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Pine Bluff, Arkansas business owner got a $40,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Pine Bluff, Arkansas was able to borrow $40,000 from Elk Horn Bank & Trust Company. The SBA made the loan possible by guaranteeing $20,000 of this Arkansas small business loan. SBA Loan Borrower COMPANY TYPE: DRYCLEANING PLANTS SBA Loan Lender ELK HORN BANK & TRUST COMPANY This lender processed this SBA bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. SIC Code 7216 - Drycleaning Plants NAICS Code 812320 - Drycleaning and Laundry Services Loan Approval Date 4/7/2000 Loan Approval Gross Amount $40,000 Loan Approval from the SBA Of the total $40,000 loan amount, the SBA guaranteed $20,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 8 employees. The SBA loan documents indicated that the loan would help retain 8 existing jobs. Next Steps for Getting an SBA Loan SBA loans provide smart, affordable business financing for small businesses looking to expand. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Elk Horn Bank & Trust Company and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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 Banks in Arkadelphia, Arkansas Getting an SBA Loan in Arkansas
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