Getting an SBA Loan for Crop Harvesting, Primarily by Machine

Looking for commercial loans for crop harvesting, primarily by machine? Talk to a banker who works with the SBA. This $383,800 crop harvesting, primarily by machine loan was issued by an Arkansas bank.

This business knew how to go about getting a business bank loan. Based in Mcdougal, Arkansas, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Corning S & L Association, based in Corning, Arkansas.

SBA Loan Borrower

COMPANY TYPE: CROP HARVESTING, PRIMARILY BY MACHINE
MCDOUGAL, AR 72441

SBA Loan Lender

CORNING S & L ASSOCIATION
520 W 2ND ST
CORNING, AR 72422

This lender issued this commercial loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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

115113 - Crop Harvesting, Primarily by Machine

Loan Approval Date

2/5/2001

Loan Approval Gross Amount

$383,800

Loan Approval from the SBA

Of the total $383,800 loan amount, the SBA guaranteed $287,850.

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 2 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are interested in getting money to start a business or already have a business and need money to expand, an SBA loan can be a great way to raise money

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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:

Business Line of Credit

SBA Banks in Corning, Arkansas

Where to Get an SBA Loan Arkansas