Hot Springs, Arkansas Entrepreneur Gets a Business Loan

ArkansasBusiness loans are available to Arkansas business owners through the SBA. In this case, an Arkansas bank provides the loan.

Getting a small business loan in Hot Springs, Arkansas was a top priority for this SBA-financed company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Elk Horn Bank & Trust Company. Here are the details on this Arkansas small business loan.

SBA Loan Borrower

COMPANY TYPE: WOOD PRODUCT MANUFACTURING
HOT SPRINGS, AR 71901

SBA Loan Lender

ELK HORN BANK & TRUST COMPANY
601 MAIN ST
ARKADELPHIA, AR 71923

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 bank loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

321999 - Wood Product Manufacturing

Loan Approval Date

6/18/2001

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $225,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 40 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are wondering how to raise money for a company in Hot Springs AR, you ought to talk with a local Hot Springs SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Hot Springs businesses.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $300,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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.

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