Springdale, Arkansas Business Gets SBA-Guaranteed Funding from Arvest Bank

Arvest Bank has a track record as a leading provider of SBA loans. Find out how this Arkansas entrepreneur received an SBA loan from them.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Springdale, Arkansas was able to borrow $30,300 from Arvest Bank. The SBA made the loan possible by guaranteeing $25,755 of this Arkansas small business loan.

SBA Loan Borrower

COMPANY TYPE: CAR WASHES
SPRINGDALE, AR 72764

SBA Loan Lender

ARVEST BANK
75 N EAST AVE
FAYETTEVILLE, AR 72701

This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811192 - Car Washes

Loan Approval Date

5/24/2001

Loan Approval Gross Amount

$30,300

Loan Approval from the SBA

Of the total $30,300 loan amount, the SBA guaranteed $25,755.

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 only one employee. The SBA loan documents did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

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

Many small businesses receive loans backed by the U.S. Small Business Administration.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Arvest Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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