Benefit Bank SBA Loan to Car Washes Company

Benefit Bank has a track record as a leading provider of SBA loans. Find out how this Arkansas entrepreneur received an SBA loan from them.

Getting a small business loan in Conway, Arkansas was an essential business goal for this firm back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Benefit Bank, operating out of Fort Smith, Arkansas. Here are the details on this Arkansas small business loan.

SBA Loan Borrower

COMPANY TYPE: CAR WASHES
CONWAY, AR 72032

SBA Loan Lender

BENEFIT BANK
8300 PHOENIX AVE
FORT SMITH, AR 72903

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811192 - Car Washes

Loan Approval Date

12/30/2003

Loan Approval Gross Amount

$968,850

Loan Approval from the SBA

Of the total $968,850 loan amount, the SBA guaranteed $726,638.

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 only one employee. The SBA loan application for the borrower did not indicate that the business planned to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Benefit Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Benefit Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Business Line of Credit

Small Business Banks in Fort Smith, Arkansas

Getting a Business Loan in Arkansas