How to Get a Loan for Plastics Product Manufacturing

Looking for business loans for plastics product manufacturing? An SBA loan may be just what you've been looking for. This $177,500 plastics product manufacturing loan was issued by an Arkansas bank.

Getting a small business loan in Clarksville, Arkansas was important for this small business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Arkansas Capital Corporation, operating out of Little Rock, Arkansas. Here are the details on this Arkansas small business loan.

SBA Loan Borrower

COMPANY TYPE: PLASTICS PRODUCT MANUFACTURING
CLARKSVILLE, AR 72830

SBA Loan Lender

ARKANSAS CAPITAL CORPORATION
200 S. COMMERCE ST., SUITE 40
LITTLE ROCK, AR 72201

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

326199 - Plastics Product Manufacturing

Loan Approval Date

3/3/2004

Loan Approval Gross Amount

$177,500

Loan Approval from the SBA

Of the total $177,500 loan amount, the SBA guaranteed $133,125.

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 14 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the money to increase staffing levels 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.

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 Arkansas Capital Corporation 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

SBA Approved Banks in Little Rock, Arkansas

SBA Arkansas Lenders