Ash Flat, Arkansas Business Gets SBA-Guaranteed Funding from First National Banking Company

An SBA loan from First National Banking Company typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Ash Flat, Arkansas business owner got a $1,656,000 loan.

Getting a small business loan in Ash Flat, Arkansas was an essential business goal for this company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from First National Banking Company, operating out of Ash Flat, Arkansas. Here are the details on this Arkansas small business loan.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL AND SERVICE INDUSTRY MACHINERY MANUFACTURING
ASH FLAT, AR 72513

SBA Loan Lender

FIRST NATIONAL BANKING COMPANY
636 ASH FLAT DR
ASH FLAT, AR 72513

This lender issued this commercial loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333319 - Commercial and Service Industry Machinery Manufacturing

Loan Approval Date

9/20/2002

Loan Approval Gross Amount

$1,656,000

Loan Approval from the SBA

Of the total $1,656,000 loan amount, the SBA guaranteed $998,568.

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 50 employees. The loan application did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

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

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like First National Banking Company 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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