Green Forest, Arkansas Business Gets SBA-Guaranteed Funding from First State Bank

First State Bank has a track record as a leading provider of SBA loans. Find out how this Arkansas entrepreneur received an SBA loan from them.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Green Forest, Arkansas was able to borrow $1,600,000 from First State Bank. The SBA made the loan possible by guaranteeing $1,200,000 of this Arkansas small business loan.

SBA Loan Borrower

COMPANY TYPE: FARM AND GARDEN MACHINERY AND EQUIPMENT MERCHANT WHOLESALERS
GREEN FOREST, AR 72638

SBA Loan Lender

FIRST STATE BANK
101 S CENTER ST
LONOKE, AR 72086

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

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

423820 - Farm and Garden Machinery and Equipment Merchant Wholesalers

Loan Approval Date

8/29/2007

Loan Approval Gross Amount

$1,600,000

Loan Approval from the SBA

Of the total $1,600,000 loan amount, the SBA guaranteed $1,200,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 50 employees. The SBA loan documents indicated that the funding would help create 50 new jobs.

Getting an SBA Loan For Your Business

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

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.

Related Links:

Alternative Financing

SBA 7A Lenders in Lonoke, Arkansas

Where to Get an SBA Loan Arkansas