Firm Gets an Arkansas Business Loan

Would an Arkansas small business loan help your small business to grow and prosper? If so, you may want to talk with this Arkansas bank, which offers SBA loans to Arkansas entrepreneurs.

This business, based in Crossett, Arkansas, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from First National Bank - Crossett. We've got the inside scoop on this Arkansas small business loan.

SBA Loan Borrower

COMPANY TYPE: FAMILY CLOTHING STORES
CROSSETT, AR 71635

SBA Loan Lender

FIRST NATIONAL BANK - CROSSETT
218 MAIN ST
CROSSETT, AR 71635

This lender issued this small business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5651 - Family Clothing Stores

NAICS Code

448140 - Family Clothing Stores

Loan Approval Date

9/29/2000

Loan Approval Gross Amount

$125,000

Loan Approval from the SBA

Of the total $125,000 loan amount, the SBA guaranteed $93,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The loan application did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you want money for new small business in Crossett AR, you ought to talk with a local Crossett SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Crossett businesses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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.

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Firm Gets an Arkansas Business Loan