Commercial Loans for Tobacco Stores

With these commercial loans for tobacco stores, the SBA guarantees the lender that the loan will be repaid. This tobacco stores loan for $32,000 was given to an Arkansas entrepreneur in 2001.

Getting a small business loan in Mayflower, Arkansas was important for this business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from First State Bank, operating out of Conway, Arkansas. Here are the details on this Arkansas small business loan.

SBA Loan Borrower

COMPANY TYPE: TOBACCO STORES
MAYFLOWER, AR 72016

SBA Loan Lender

FIRST STATE BANK
620 CHESTNUT ST
CONWAY, AR 72032

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453991 - Tobacco Stores

Loan Approval Date

2/13/2001

Loan Approval Gross Amount

$32,000

Loan Approval from the SBA

Of the total $32,000 loan amount, the SBA guaranteed $27,200.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First State Bank and they will explain how you can get an SBA loan for your company.

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:

Business Credit Evaluation

SBA 7A Banks in Conway, Arkansas

SBA Lenders in Arkansas