Jonesboro, Arkansas Bank Lends Money to Wood Product Manufacturing Company in Jonesboro, Arkansas

Get to know Jonesboro, Arkansas banks that specialize in business loans and know how to work with entrepreneurs. Simmons 1st Bank - Jonesboro is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Jonesboro, Arkansas starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from Simmons 1st Bank - Jonesboro. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: WOOD PRODUCT MANUFACTURING
JONESBORO, AR 72404

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 business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

321999 - Wood Product Manufacturing

Loan Approval Date

2/10/2006

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 2 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Simmons 1st Bank - Jonesboro and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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