Berryville, Arkansas Bank Lends Money to Full-Service Restaurants Company in Berryville, Arkansas

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

Applying for an SBA loan with 1st National Bank - Berryville worked out well for our friends at one local firm in Berryville, Arkansas. They received an SBA loan for $162,500. Way to go!

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
BERRYVILLE, AR 72616

SBA Loan Lender

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

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

722110 - Full-Service Restaurants

Loan Approval Date

1/19/2005

Loan Approval Gross Amount

$162,500

Loan Approval from the SBA

Of the total $162,500 loan amount, the SBA guaranteed $121,875.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the business planned to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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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Arkansas SBA 7A Banks