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November 21, 2024 |
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| Home > Small Business Lenders by State > Arkansas Business Loan Sources > Irving, Business Loans > Citicapital Small Business Finance Irving Business Loans > Auto And Home Supply Stores Loan | ||||
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Texas Bank SBA Loans
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Citicapital Small Business Finance SBA Loan to Auto And Home Supply Stores CompanyWant an Arkansas business loan? Here's one Arkansas business loan that was approved by the SBA. This local small business knew how to go about getting a business bank loan. Based in Heber Springs, Arkansas, they applied for and were given an SBA-guaranteed loan in 2000. The lending bank was Citicapital Small Business Finance, based in Irving, Texas. SBA Loan Borrower COMPANY TYPE: AUTO AND HOME SUPPLY STORES SBA Loan Lender CITICAPITAL SMALL BUSINESS FINANCE This loan for a small business was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5531 - Auto and Home Supply Stores Loan Approval Date 4/7/2000 Loan Approval Gross Amount $57,000 Loan Approval from the SBA Of the total $57,000 loan amount, the SBA guaranteed $45,600. 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 only one employee. The loan application did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Best Banks for Small Business in Irving, Texas
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