Jonesboro, Arkansas Business Gets SBA-Guaranteed Funding from Ecd Investments Bidco Corp

Ecd Investments Bidco Corp 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 growing company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Ecd Investments Bidco Corp, out of Monroe, Louisiana. The loan was granted and they received $61,600 to help grow their Jonesboro, Arkansas business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
JONESBORO, AR 72467

SBA Loan Lender

ECD INVESTMENTS BIDCO CORP
909 NORTH 18TH ST, STE 223
MONROE, LA 71201

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

5/8/2003

Loan Approval Gross Amount

$61,600

Loan Approval from the SBA

Of the total $61,600 loan amount, the SBA guaranteed $52,360.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 3 employees. The SBA loan documents did not indicate that the business promised to use the money to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide money to small business owners for working capital for other expenses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $61,600 loan. Remember, if it to be, it is up to me!

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:

Business Credit Evaluation

SBA Participating Banks in Monroe, Louisiana

SBA Lenders in Louisiana