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November 15, 2024 |
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| Home > Small Business Lenders by State > Arkansas Business Loan Sources > Malvern, Business Loans > Summit Bank Malvern Business Loans > Auto And Home Supply Stores Loan | ||||
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SBA Lenders Arkansas
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Malvern, Arkansas Lender Lends Money to Auto And Home Supply Stores CompanyThinking about meeting with a Malvern, Arkansas bank about a small business loan? Here's one Arkansas business loan, issued by a Malvern bank, that was approved by the SBA. Applying for an SBA loan with Summit Bank worked out well for our friends at one local business in Hot Springs, Arkansas. The business was able to get an SBA loan for $187,500. Great job! SBA Loan Borrower COMPANY TYPE: AUTO AND HOME SUPPLY STORES SBA Loan Lender SUMMIT BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA loans to to our country's hard-working small business owners. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5531 - Auto and Home Supply Stores Loan Approval Date 5/17/2000 Loan Approval Gross Amount $187,500 Loan Approval from the SBA Of the total $187,500 loan amount, the SBA guaranteed $140,625. 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 3 employees. This SBA loan request did not indicate that the SBA funding recipient 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? The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. We can help you find the best banks for small businesses in Hot Springs or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Obtaining Funding - Getting Venture Capital SBA 7A Lenders in Malvern, Arkansas
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