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December 19, 2024 |
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| Home > Small Business Lenders by State > Arkansas Business Loan Sources > North Little Rock, Business Loans > U.S. Bank National Association North Little Rock Business Loans > Cottonseed Oil Mills Loan | ||||
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Arkansas Bank SBA Loans
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U.S. Bank National Association SBA Loan to Cottonseed Oil Mills CompanyLooking to get an Arkansas small business loan? Here's one Arkansas business loan that was approved by the SBA. This growing company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with U.S. Bank National Association, out of North Little Rock, Arkansas. The loan was granted and they received $65,000 to help grow their Brinkley, Arkansas business. SBA Loan Borrower COMPANY TYPE: COTTONSEED OIL MILLS SBA Loan Lender U.S. BANK NATIONAL ASSOCIATION The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA small 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. SIC Code 2074 - Cottonseed Oil Mills Loan Approval Date 3/15/2000 Loan Approval Gross Amount $65,000 Loan Approval from the SBA Of the total $65,000 loan amount, the SBA guaranteed $52,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the company planned to use the funding to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Obtaining Funding - Getting Venture Capital Who Lends Money to Small Businesses in North Little Rock, Arkansas Getting an SBA Loan in Arkansas
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