First Delta Bank Provides SBA Loan to Buy Radio Shack Franchise

Borrowing money to buy a Radio Shack franchise? First Delta Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Marked Tree, Arkansas and are interested in buying a Radio Shack franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2001 by First Delta Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

MASSEY'S VIDEO AND QUICKSTOP
MARKED TREE, AR 72365

SBA Loan Lender

FIRST DELTA BANK
230 S MAIN ST
TYRONZA, AR 72386

This lender issued this business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

532230 - Video Tape and Disc Rental

Loan Approval Date

5/31/2001

Loan Approval Gross Amount

$240,153

Loan Approval from the SBA

Of the total $240,153 loan amount, the SBA guaranteed $180,114.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Radio Shack franchise. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower did not indicate that the company planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

RadioShack

Small Business Credit Cards

Banks in Tyronza, Arkansas

Arkansas SBA 7A Banks