SBA Loan from Simmons 1st Bank - N.W. Arkansas Helps Insurance Agencies And Brokerages Company
Simmons 1st Bank - N.W. Arkansas and the SBA work together to get business loans for growing small businesses. Here's an example of how an Arkansas entrepreneur was able to get a loan to take a small business to the next level.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Bella Vista, Arkansas was able to borrow $85,000 from Simmons 1st Bank - N.W. Arkansas. The SBA made the loan possible by guaranteeing $72,250 of this Arkansas small business loan.
SBA Loan Borrower
COMPANY TYPE: INSURANCE AGENCIES AND BROKERAGES
BELLA VISTA, AR 72714
SBA Loan Lender
SIMMONS 1ST BANK - N.W. ARKANSAS
111 N 8TH ST
ROGERS, AR 72756
This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
524210 - Insurance Agencies and Brokerages
Loan Approval Date
2/12/2004
Loan Approval Gross Amount
$85,000
Loan Approval from the SBA
Of the total $85,000 loan amount, the SBA guaranteed $72,250.
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 SBA funding recipient planned to use the money to hire new employees or retain any existing employees.
Next Steps for Getting an SBA Loan
SBA loans provide smart, affordable business financing for small businesses looking to expand.
We can help you find the best banks for small businesses in Bella Vista or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.
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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