Imboden, Arkansas Business Gets SBA-Guaranteed Funding from Liberty Bank Of Arkansas

Liberty Bank Of Arkansas and the SBA work together to get business loans for growing small businesses. Here's an example of how an Arkansas entrepreneur was able to get a loan to take a small business to the next level.

This business knew how to go about getting a business bank loan. Based in Imboden, Arkansas, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Liberty Bank Of Arkansas, based in Paragould, Arkansas.

SBA Loan Borrower

COMPANY TYPE: SAWMILLS AND PLANING MILLS, GENERAL
IMBODEN, AR 72466

SBA Loan Lender

LIBERTY BANK OF ARKANSAS
300 W EMERSON
PARAGOULD, AR 72450

This lender issued this SBA bank loan 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.

SIC Code

2421 - Sawmills and Planing Mills, General

Loan Approval Date

1/6/2000

Loan Approval Gross Amount

$1,039,449

Loan Approval from the SBA

Of the total $1,039,449 loan amount, the SBA guaranteed $750,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 11 employees. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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