Jonesboro, Arkansas Business Gets SBA-Guaranteed Funding from Simmons 1st Bank - Jonesboro

Simmons 1st Bank - Jonesboro has a track record as a leading provider of SBA loans. Find out how this Arkansas entrepreneur received an SBA loan from them.

Getting a small business loan in Jonesboro, Arkansas was an essential business goal for this company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Simmons 1st Bank - Jonesboro, operating out of Jonesboro, Arkansas. Here are the details on this Arkansas small business loan.

SBA Loan Borrower

COMPANY TYPE: HOME FURNISHINGS STORES
JONESBORO, AR 72404

SBA Loan Lender

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

This lender issued this 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 was started in 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.

NAICS Code

442299 - Home Furnishings Stores

Loan Approval Date

1/3/2002

Loan Approval Gross Amount

$860,000

Loan Approval from the SBA

Of the total $860,000 loan amount, the SBA guaranteed $645,000.

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 13 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you need money to start a small business or need money to grow a business, an SBA loan can be a great way to raise money

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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