Business Loan from Simmons 1st Bank - Jonesboro Given to Automotive Exhaust System Repair Company

Simmons 1st Bank - Jonesboro is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Arkansas entrepreneur who tapped into the power of SBA loans.

This small firm received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Simmons 1st Bank - Jonesboro, out of Jonesboro, Arkansas. The loan was granted and they received $195,600 to help grow their Jonesboro, Arkansas business.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE EXHAUST SYSTEM REPAIR
JONESBORO, AR 72401

SBA Loan Lender

SIMMONS 1ST BANK - JONESBORO
1720 S CARAWAY RD
JONESBORO, AR 72401

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This debt financing was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811112 - Automotive Exhaust System Repair

Loan Approval Date

11/1/2001

Loan Approval Gross Amount

$195,600

Loan Approval from the SBA

Of the total $195,600 loan amount, the SBA guaranteed $146,700.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you want money for new small business in Jonesboro AR, you ought to talk with a local Jonesboro SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Jonesboro businesses.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

Financing Your Business

SBA Approved Banks in Jonesboro, Arkansas

Arkansas SBA 7A Banks