The Bank Of Fayetteville Gives Business Loan to Gift, Novelty, And Souvenir Shops Company

Would an Arkansas SBA loan help your business get to the next level? If so, you may want to talk with this Arkansas bank, which offers SBA loans to Arkansas entrepreneurs.

This business, based in Fayetteville, 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 The Bank Of Fayetteville. We've got the inside scoop on this Arkansas small business loan.

SBA Loan Borrower

COMPANY TYPE: GIFT, NOVELTY, AND SOUVENIR SHOPS
FAYETTEVILLE, AR 72701

SBA Loan Lender

THE BANK OF FAYETTEVILLE
ONE S BLOCK ST
FAYETTEVILLE, AR 72701

This lender issued this particular debt financing under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5947 - Gift, Novelty, and Souvenir Shops

NAICS Code

453920 - Art Dealers

Loan Approval Date

10/26/2000

Loan Approval Gross Amount

$73,300

Loan Approval from the SBA

Of the total $73,300 loan amount, the SBA guaranteed $58,640.

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 3 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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