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December 19, 2024 |
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| Home > Small Business Lenders by State > Arkansas Business Loan Sources > Little Rock, Business Loans > Metropolitan National Bank Little Rock Business Loans > Gasket, Packing, And Sealing Device Manufacturing Loan | ||||
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Little Rock, Arkansas Bank for SBA Loans
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Raising Money for Gasket, Packing, and Sealing Device ManufacturingWith these business loans for gasket, packing, and sealing device manufacturing, the SBA guarantees the lender that the loan will be repaid. This gasket, packing, and sealing device manufacturing loan for $650,000 was given to an Arkansas entrepreneur in 2004. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Little Rock, Arkansas was able to borrow $650,000 from Metropolitan National Bank. The SBA made the loan possible by guaranteeing $539,500 of this Arkansas small business loan. SBA Loan Borrower COMPANY TYPE: GASKET, PACKING, AND SEALING DEVICE MANUFACTURING SBA Loan Lender METROPOLITAN NATIONAL BANK The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide bank loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 339991 - Gasket, Packing, and Sealing Device Manufacturing Loan Approval Date 1/15/2004 Loan Approval Gross Amount $650,000 Loan Approval from the SBA Of the total $650,000 loan amount, the SBA guaranteed $539,500. 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 37 employees. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. 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. Related Links: SBA Banks in Little Rock, Arkansas
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