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November 14, 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 > Motor Vehicle Dealers Loan | ||||
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What Does It Take to Get a Business Loan in Little Rock, Arkansas?
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Financing for Motor Vehicle DealersLooking for commercial loans for motor vehicle dealers? Talk to a banker who works with the SBA. This $50,000 motor vehicle dealers loan was issued by an Arkansas bank. This business knew how to go about getting a business bank loan. Based in Little Rock, Arkansas, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Metropolitan National Bank, based in Little Rock, Arkansas. SBA Loan Borrower COMPANY TYPE: MOTOR VEHICLE DEALERS SBA Loan Lender METROPOLITAN NATIONAL BANK This lender processed this SBA loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. 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 441229 - Motor Vehicle Dealers Loan Approval Date 10/28/2005 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. 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 only one employee. The loan application indicated that the funding would help generate 1 new job. Getting an SBA Loan For Your Business SBA loans provide money to small business owners for working capital for other expenses. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Metropolitan National Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Best Little Rock, Arkansas Banks for Small Business
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