SBA Loan from Elk Horn Bank & Trust Company Helps Plumbing, Heating, And Air Conditioning Contractors Company

Elk Horn Bank & Trust Company and the SBA work together to get business loans for growing small businesses. Here's an example of how an Arkansas entrepreneur was able to get a loan to take a small business to the next level.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Crossett, Arkansas was able to borrow $120,800 from Elk Horn Bank & Trust Company. The SBA made the loan possible by guaranteeing $102,680 of this Arkansas small business loan.

SBA Loan Borrower

COMPANY TYPE: PLUMBING, HEATING, AND AIR CONDITIONING CONTRACTORS
CROSSETT, AR 71635

SBA Loan Lender

ELK HORN BANK & TRUST COMPANY
601 MAIN ST
ARKADELPHIA, AR 71923

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

235110 - Plumbing, Heating, and Air Conditioning Contractors

Loan Approval Date

3/5/2003

Loan Approval Gross Amount

$120,800

Loan Approval from the SBA

Of the total $120,800 loan amount, the SBA guaranteed $102,680.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 21 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the money to hire new 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.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $120,800 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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