Where to Get Capital for Used Merchandise Stores

With these small business loans for used merchandise stores, the SBA guarantees the lender that the loan will be repaid. This used merchandise stores loan for $50,000 was given to an Arkansas entrepreneur in 2001.

This company knew how to go about getting a business bank loan. Based in Alpena, Arkansas, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Arvest Bank, based in Berryville, Arkansas.

SBA Loan Borrower

COMPANY TYPE: USED MERCHANDISE STORES
ALPENA, AR 72611

SBA Loan Lender

ARVEST BANK
401 W TRIMBLE
BERRYVILLE, AR 72616

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453310 - Used Merchandise Stores

Loan Approval Date

3/5/2001

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees.

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

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Debt Financing

Where to Get an SBA Loan in Berryville, Arkansas

SBA Lenders in Arkansas