Business Loan from Anb Finan Given to Motor Vehicle Parts Merchant Wholesalers Company

Anb Finan is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Arkansas entrepreneur who tapped into the power of SBA loans.

This business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Anb Finan, out of Fayetteville, Arkansas. The loan was granted and they received $850,000 to help grow their Fayetteville, Arkansas business.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE PARTS MERCHANT WHOLESALERS
FAYETTEVILLE, AR 72704

SBA Loan Lender

ANB FINAN
2710 MISSION BLVD
FAYETTEVILLE, AR 72703

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This small business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

423140 - Motor Vehicle Parts Merchant Wholesalers

Loan Approval Date

9/11/2003

Loan Approval Gross Amount

$850,000

Loan Approval from the SBA

Of the total $850,000 loan amount, the SBA guaranteed $637,500.

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 10 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Anb Finan and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Direct Public Offerings

Who Lends Money to Small Businesses in Fayetteville, Arkansas

Getting an SBA Loan in Arkansas