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November 15, 2024 |
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| Home > Small Business Lenders by State > Arkansas Business Loan Sources > North Little Rock, Business Loans > Twin City Bank North Little Rock Business Loans > General Merchandise Stores Loan | ||||
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Who Lends Money to Maumelle Businesses
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Arkansas Bank Loan Issued to General Merchandise Stores CompanyLooking to get an Arkansas SBA loan? This Arkansas entrepreneur got an SBA loan, provided by an Arkansas bank that works with the SBA to help small business owners. By giving the right information to Twin City Bank, this Maumelle, Arkansas business was able to get an SBA loan. To get this loan, the applying company gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: GENERAL MERCHANDISE STORES SBA Loan Lender TWIN CITY BANK This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 452990 - General Merchandise Stores Loan Approval Date 4/5/2005 Loan Approval Gross Amount $145,000 Loan Approval from the SBA Of the total $145,000 loan amount, the SBA guaranteed $123,250. More Information on This SBA Loan The borrower borrowed this money for a new 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 did not indicate that the business planned to use the money to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? If you need business start up money in Maumelle AR, you ought to talk with a local Maumelle SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Maumelle businesses. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Twin City Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: How Much Venture Capital Is There? SBA Participating Banks in North Little Rock, Arkansas
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