Growing Company Gets an Arkansas Bank Loan

Bank loans in Arkansas are hard to find these days. We take a look at one Arkansas bank loan, provided by an Arkansas bank, that was approved by the SBA.

Getting a small business loan in Benton, Arkansas was a top priority for this loan applicant back in 2006 and, based on their loan application, they were successful in getting an SBA loan from The Union Bank Of Benton. Here are the details on this Arkansas small business loan.

SBA Loan Borrower

COMPANY TYPE: CERTIFIED PUBLIC ACCOUNTANTS
BENTON, AR 72015

SBA Loan Lender

THE UNION BANK OF BENTON
207 W CONWAY ST
BENTON, AR 72015

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide 7A business loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541211 - Certified Public Accountants

Loan Approval Date

8/14/2006

Loan Approval Gross Amount

$324,500

Loan Approval from the SBA

Of the total $324,500 loan amount, the SBA guaranteed $243,375.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into The Union Bank Of Benton and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Small Business Credit Cards

Best Banks in Benton, Arkansas

Getting a Business Loan in Arkansas