Local Business Gets an Arkansas Business Loan
Business loans in Arkansas are hard to find these days. We take a look at one Arkansas business loan, provided by an Arkansas bank, that was approved by the SBA.
You can learn something about getting a small business loan in Conway, Arkansas by studying this loan to a local business, made back in 2005. Banks like Arvest Bank may also be willing to lend to you, given that they granted this small business loan.
SBA Loan Borrower
COMPANY TYPE: FULL-SERVICE RESTAURANTS
CONWAY, AR 72032
SBA Loan Lender
ARVEST BANK
2850 COLLEGE AVE
CONWAY, AR 72034
The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide debt financing to to entrepreneurs who might have trouble getting a conventional bank loan.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
722110 - Full-Service Restaurants
Loan Approval Date
12/8/2005
Loan Approval Gross Amount
$94,000
Loan Approval from the SBA
Of the total $94,000 loan amount, the SBA guaranteed $79,900.
More Information on This SBA Loan
The borrower borrowed this money for a new 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 8 employees. The loan application did not indicate that the company promised to use the money to add employees or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
Many small businesses receive loans backed by the U.S. Small Business Administration.
Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Arvest Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).
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:
Advice on Getting a Small Business Loan
Banks in Conway, Arkansas
Browse All Business Loan Sources for Arkansas