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December 23, 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 > Jewelry Stores Loan | ||||
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Jonesboro Bank Loan
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Jonesboro, Arkansas Bank Lends Money to Jewelry Stores Company in Jonesboro, ArkansasA Jonesboro, Arkansas small business loan can be yours. Learn how a business got a $85,000 business loan from this Arkansas bank. This loan to a local firm 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: JEWELRY STORES SBA Loan Lender SIMMONS 1ST BANK - JONESBORO This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 448310 - Jewelry Stores Loan Approval Date 10/25/2006 Loan Approval Gross Amount $85,000 Loan Approval from the SBA Of the total $85,000 loan amount, the SBA guaranteed $42,500. 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 10 employees. The SBA loan documents indicated that the loan would help retain 10 existing jobs. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Who Lends Money to Small Businesses in Jonesboro, Arkansas SBA Participating Banks in Arkansas
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