Benefit Bank Gives Small Business Loan to Supermarkets And Grocery Stores Company

ArkansasBusiness loans are available to Arkansas business owners through the SBA. In this case, an Arkansas bank provides the loan.

This small business, based in Ft Smith, 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 Benefit Bank. We've got the inside scoop on this Arkansas small business loan.

SBA Loan Borrower

COMPANY TYPE: SUPERMARKETS AND GROCERY STORES
FT SMITH, AR 72904

SBA Loan Lender

BENEFIT BANK
8300 PHOENIX AVE
FORT SMITH, AR 72903

This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445110 - Supermarkets and Grocery Stores

Loan Approval Date

12/11/2003

Loan Approval Gross Amount

$127,500

Loan Approval from the SBA

Of the total $127,500 loan amount, the SBA guaranteed $108,375.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 10 employees. This SBA loan request did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This SBA loan was for $127,500. How would you spend $127,500 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Advice on Getting a Small Business Loan

Best Banks for Small Business in Fort Smith, Arkansas

Where to Get an SBA Loan Arkansas