Bank Loans for Roofing Contractors

Looking for bank loans for roofing contractors? An SBA loan may be just what you've been looking for. This $72,000 roofing contractors loan was issued by an Arkansas bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Berryville, Arkansas was able to borrow $72,000 from Community First Bank. The SBA made the loan possible by guaranteeing $61,200 of this Arkansas small business loan.

SBA Loan Borrower

COMPANY TYPE: ROOFING CONTRACTORS
BERRYVILLE, AR 72616

SBA Loan Lender

COMMUNITY FIRST BANK
200 E RIDGE
HARRISON, AR 72601

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

238160 - Roofing Contractors

Loan Approval Date

6/8/2005

Loan Approval Gross Amount

$72,000

Loan Approval from the SBA

Of the total $72,000 loan amount, the SBA guaranteed $61,200.

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

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

While you may be able to find business people willing to loan money, 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.

Related Links:

Alternative Financing

Small Business Banks in Harrison, Arkansas

Arkansas SBA 7A Lenders