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November 15, 2024 |
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| Home > Small Business Lenders by State > Arkansas Business Loan Sources > Jonesboro, Business Loans > Simmons 1st Bank - Jonesboro Jonesboro Business Loans > Children's And Infants' Clothing Stores Loan | ||||
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Arkansas SBA 7A Lenders
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Entrepreneur Works With Jonesboro, Arkansas Bank to Get an SBA LoanA Jonesboro, Arkansas small business loan can be yours. Learn how a business got a $146,000 business loan from this Arkansas bank. This loan to an entrepreneur is a good example of an SBA loan. Simmons 1st Bank - Jonesboro made the loan and the SBA guaranteed a portion of the loan. Many other Arkansas entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: CHILDREN'S AND INFANTS' CLOTHING STORES SBA Loan Lender SIMMONS 1ST BANK - JONESBORO This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 448130 - Children's and Infants' Clothing Stores Loan Approval Date 6/7/2001 Loan Approval Gross Amount $146,000 Loan Approval from the SBA Of the total $146,000 loan amount, the SBA guaranteed $124,100. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The loan application did not indicate that the company 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? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Simmons 1st Bank - Jonesboro and they will explain how you can get an SBA loan for your company. 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: Small Bank Loans in Jonesboro, Arkansas
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