El Dorado, Arkansas Lender Lends Money to Poultry And Poultry Product Merchant Wholesalers Company

Want to talk with an El Dorado, Arkansas bank about a business loan? Here's one Arkansas business loan, issued by an El Dorado bank, that was approved by the SBA.

Applying for an SBA loan with First Financial Bank worked out well for our friends at one local business in Lockesburg, Arkansas. The business was able to get an SBA loan for $17,500. Great job!

SBA Loan Borrower

COMPANY TYPE: POULTRY AND POULTRY PRODUCT MERCHANT WHOLESALERS
LOCKESBURG, AR 71846

SBA Loan Lender

FIRST FINANCIAL BANK
214 N WASHINGTON, STE 516
EL DORADO, AR 71730

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 commercial loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

424440 - Poultry and Poultry Product Merchant Wholesalers

Loan Approval Date

9/20/2004

Loan Approval Gross Amount

$17,500

Loan Approval from the SBA

Of the total $17,500 loan amount, the SBA guaranteed $13,125.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 3 employees. The loan application did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are working on finding money to start a business in Lockesburg AR, you ought to talk with a local Lockesburg SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Lockesburg 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 First Financial 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:

Borrowing Money from Friends and Family

SBA Banks in El Dorado, Arkansas

Getting a Business Loan in Arkansas