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November 15, 2024 |
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| Home > Small Business Lenders by State > Arkansas Business Loan Sources > Malvern, Business Loans > Summit Bank Malvern Business Loans > Eating Places Loan | ||||
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Malvern Small Business Loans from Summit Bank
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Business Loan from Summit Bank Given to Eating Places CompanySummit Bank has a track record as a leading provider of SBA loans. Find out how this Arkansas entrepreneur received an SBA loan from them. This small firm received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Summit Bank, out of Malvern, Arkansas. The loan was granted and they received $77,000 to help grow their Malvern, Arkansas business. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender SUMMIT BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 11/17/2000 Loan Approval Gross Amount $77,000 Loan Approval from the SBA Of the total $77,000 loan amount, the SBA guaranteed $61,600. 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 19 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: Find an SBA Lender in Malvern, Arkansas
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