Local Business Gets an Arkansas Small Business Loan

Business loans in Arkansas are tough to come by these days. We take a look at one Arkansas business loan, provided by an Arkansas bank, that was approved by the SBA.

You can learn something about getting a small business loan in Berryville, Arkansas by studying this loan to a local business, made back in 2001. Banks like 1st National Bank - Berryville may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: CABLE AND PROGRAM DISTRIBUTION
BERRYVILLE, AR 72616

SBA Loan Lender

1ST NATIONAL BANK - BERRYVILLE
305-307 PUBLIC SQ
BERRYVILLE, AR 72616

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

513220 - Cable and Program Distribution

Loan Approval Date

11/5/2001

Loan Approval Gross Amount

$135,000

Loan Approval from the SBA

Of the total $135,000 loan amount, the SBA guaranteed $114,750.

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 5 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees.

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

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

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like 1st National Bank - Berryville and they will explain how you can get an SBA loan for your company.

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:

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SBA 7A Banks in Berryville, Arkansas

Arkansas SBA 7A Banks