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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 > Ground Or Treated Mineral And Earth Manufacturing Loan | ||||
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Arkansas SBA 7A Lenders
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Entrepreneur Works With Little Rock, Arkansas Bank to Get an SBA LoanThinking about meeting with a Little Rock, Arkansas bank about a business loan? Here's one Arkansas business loan, issued by a Little Rock bank, that was approved by the SBA. Applying for an SBA loan with Metropolitan National Bank worked out well for our friends at one local company in Little Rock, Arkansas. They received an SBA loan for $205,000. Nice! SBA Loan Borrower COMPANY TYPE: GROUND OR TREATED MINERAL AND EARTH MANUFACTURING SBA Loan Lender METROPOLITAN NATIONAL BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA loans to to our country's hard-working small business owners. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 327992 - Ground or Treated Mineral and Earth Manufacturing Loan Approval Date 3/12/2004 Loan Approval Gross Amount $205,000 Loan Approval from the SBA Of the total $205,000 loan amount, the SBA guaranteed $153,750. 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 5 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. 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 Metropolitan National Bank 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. Related Links: Advice on Getting a Small Business Loan Best Banks for Small Business in Little Rock, Arkansas
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