Mcgehee, Arkansas Lender Lends Money to Drinking Places Company

Thinking about meeting with a Mcgehee, Arkansas bank about a business loan? Here's one Arkansas business loan, issued by a Mcgehee bank, that was approved by the SBA.

Applying for an SBA loan with 1st National Bank - Mcgehee worked out well for our friends at one local business in Arkansas City, Arkansas. They received an SBA loan for $40,000. Nice!

SBA Loan Borrower

COMPANY TYPE: DRINKING PLACES
ARKANSAS CITY, AR 71630

SBA Loan Lender

1ST NATIONAL BANK - MCGEHEE
500 N 2ND ST
MCGEHEE, AR 71654

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5813 - Drinking Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

1/17/2001

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $34,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 5 employees. The SBA loan documents did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are wondering how to find money to start a business or need money to grow a business, an SBA loan can be a great source of funding.

We've showcased information on this loan to let you know that businesses like yours 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.

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