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November 15, 2024 |
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| Home > Small Business Lenders by State > Arkansas Business Loan Sources > Magnolia, Business Loans > Farmers Bank & Trust Company Magnolia Business Loans > Prefabricated Metal Building And Component Manufacturing Loan | ||||
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Small Business Banks for Magnolia, Arkansas Entrepreneurs
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Financing for Prefabricated Metal Building and Component ManufacturingLooking for loans for prefabricated metal building and component manufacturing? The SBA may be the answer. This $840,000 prefabricated metal building and component manufacturing loan was issued by an Arkansas bank. This small firm received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Farmers Bank & Trust Company, out of Magnolia, Arkansas. The loan was granted and they received $840,000 to help grow their Magnolia, Arkansas business. SBA Loan Borrower COMPANY TYPE: PREFABRICATED METAL BUILDING AND COMPONENT MANUFACTURING SBA Loan Lender FARMERS BANK & TRUST COMPANY When it made this small business loan, this lending institution participated in the SBA's Certified Lenders Program (CLP). This program aims to ensure quick service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 332311 - Prefabricated Metal Building and Component Manufacturing Loan Approval Date 12/18/2000 Loan Approval Gross Amount $840,000 Loan Approval from the SBA Of the total $840,000 loan amount, the SBA guaranteed $630,000. 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 30 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Farmers Bank & Trust Company had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Farmers Bank & Trust Company made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Determining Proper Capital Structure for a Business SBA Approved Banks in Magnolia, Arkansas
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