Borrowing Money for Surveying and Mapping Services
With these loans for surveying and mapping services, the SBA guarantees the lender that the loan will be repaid. This surveying and mapping services loan for $420,000 was given to an Arkansas entrepreneur in 2007.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Conway, Arkansas was able to borrow $420,000 from First State Bank. The SBA made the loan possible by guaranteeing $315,000 of this Arkansas small business loan.
SBA Loan Borrower
COMPANY TYPE: SURVEYING AND MAPPING SERVICES
CONWAY, AR 72032
SBA Loan Lender
FIRST STATE BANK
620 CHESTNUT ST
CONWAY, AR 72032
As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
541370 - Surveying and Mapping Services
Loan Approval Date
4/26/2007
Loan Approval Gross Amount
$420,000
Loan Approval from the SBA
Of the total $420,000 loan amount, the SBA guaranteed $315,000.
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 3 employees. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 3 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.
Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $420,000 loan. Remember, anyone can do it... so why not you?
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 Incubators
Best Banks in Conway, Arkansas
SBA Participating Banks in Arkansas