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November 14, 2024 |
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| Home > Small Business Lenders by State > Arkansas Business Loan Sources > Little Rock, Business Loans > Arkansas Capital Corporation Little Rock Business Loans > Gasoline Stations Loan | ||||
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Banks in Little Rock, Arkansas That Make SBA Loans
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Entrepreneur Works With Little Rock, Arkansas Bank to Get an SBA LoanWant to talk with a Little Rock, Arkansas bank about a small business loan? Here's one Arkansas business loan, issued by a Little Rock bank, that was approved by the SBA. Applying for an SBA loan with Arkansas Capital Corporation worked out well for our friends at one local business in Horsehoe Bend, Arkansas. They got an SBA loan for $162,400. Great job! SBA Loan Borrower COMPANY TYPE: GASOLINE STATIONS SBA Loan Lender ARKANSAS CAPITAL CORPORATION This lender issued this loan for a small business under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 447190 - Gasoline Stations Loan Approval Date 11/6/2003 Loan Approval Gross Amount $162,400 Loan Approval from the SBA Of the total $162,400 loan amount, the SBA guaranteed $121,800. 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 2 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees. Getting an SBA Loan For Your Business SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. 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: Realistic Debt Financing Options Small Business Banks in Little Rock, Arkansas
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