Hot Springs National, Arkansas Bank Gives SBA Loan to Floor Covering Stores Company

Thinking about meeting with a Hot Springs National, Arkansas bank about a small business loan? Here's one Arkansas business loan, issued by a Hot Springs National bank, that was approved by the SBA.

Applying for an SBA loan with Simmons 1st Bank - Hot Springs worked out well for our friends at one local firm in Hot Springs, Arkansas. The business was able to get an SBA loan for $135,000. Awesome!

SBA Loan Borrower

COMPANY TYPE: FLOOR COVERING STORES
HOT SPRINGS, AR 71901

SBA Loan Lender

SIMMONS 1ST BANK - HOT SPRINGS
100 WERNER ST
HOT SPRINGS NATIONAL, AR 71913

This lender issued this commercial loan under the 7A SBA 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

442210 - Floor Covering Stores

Loan Approval Date

8/28/2003

Loan Approval Gross Amount

$135,000

Loan Approval from the SBA

Of the total $135,000 loan amount, the SBA guaranteed $114,750.

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 8 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Simmons 1st Bank - Hot Springs are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Dealing With Venture Capitalists

SBA Participating Banks in Hot Springs National, Arkansas

Getting an SBA Loan in Arkansas