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April 19, 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 > Motor Vehicle Dealers Loan | ||||
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We Needed an SBA 7A Loan in Sherwood, Arkansas and We Got One!
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Motor Vehicle Dealers Bank LoansWith these bank loans for motor vehicle dealers, the SBA guarantees the lender that the loan will be repaid. This motor vehicle dealers loan for $175,000 was given to an Arkansas entrepreneur in 2006. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Sherwood, Arkansas was able to borrow $175,000 from Metropolitan National Bank. The SBA made the loan possible by guaranteeing $131,250 of this Arkansas small business loan. SBA Loan Borrower COMPANY TYPE: MOTOR VEHICLE DEALERS SBA Loan Lender METROPOLITAN NATIONAL BANK This SBA business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 441229 - Motor Vehicle Dealers Loan Approval Date 12/28/2006 Loan Approval Gross Amount $175,000 Loan Approval from the SBA Of the total $175,000 loan amount, the SBA guaranteed $131,250. 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 2 employees. The SBA loan documents indicated that the funding would help create 1 new job. Next Steps for Getting an SBA Loan SBA loans provide money to small business owners for working capital for other expenses. If you need emergency money for small 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: Banking Deregulation's Effects on Entrepreneurship Best Little Rock, Arkansas Banks for Small Business
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