Loan Census Banking News and Information
March 29, 2024  
 
 
  Business Loan Information  
 

Twin City Bank Sherwood, Arkansas

 

 
Loan Census SBA Loan Info

Business Loan from Twin City Bank Given to Security Systems Services Company

An SBA loan from Twin City Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Sherwood, Arkansas business owner got a $300,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Sherwood, Arkansas was able to borrow $300,000 from Twin City Bank. The SBA made the loan possible by guaranteeing $225,000 of this Arkansas small business loan.

SBA Loan Borrower

COMPANY TYPE: SECURITY SYSTEMS SERVICES
SHERWOOD, AR 72120

SBA Loan Lender

TWIN CITY BANK
2716 LAKEWOOD VILLAGE PL
NORTH LITTLE ROCK, AR 72116

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

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561621 - Security Systems Services

Loan Approval Date

4/22/2002

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $225,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 25 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your 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.

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 Twin City Bank 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.

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Who Lends Money to Small Businesses in North Little Rock, Arkansas

Arkansas SBA Bank Lenders