Entrepreneur Works With Batesville, Arkansas Bank to Get an SBA Loan

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

Applying for an SBA loan with Citizens Bancshares - Batesvil worked out well for our friends at one local business in Batesville, Arkansas. They got an SBA loan for $406,500. Nice!

SBA Loan Borrower

COMPANY TYPE: PETROLEUM BULK STATIONS AND TERMINALS
BATESVILLE, AR 72501

SBA Loan Lender

CITIZENS BANCSHARES - BATESVIL
3RD & COLLEGE ST
BATESVILLE, AR 72501

This lender issued this commercial loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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

424710 - Petroleum Bulk Stations and Terminals

Loan Approval Date

8/28/2003

Loan Approval Gross Amount

$406,500

Loan Approval from the SBA

Of the total $406,500 loan amount, the SBA guaranteed $304,875.

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 10 employees. The SBA loan documents did not indicate that the business promised to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Although it's called an SBA loan, you 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.

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