Business Loan from Merchants & Farmers Bank Given to Drafting Services Company

Merchants & Farmers Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Arkansas entrepreneur who tapped into the power of SBA loans.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Monticello, Arkansas was able to borrow $170,150 from Merchants & Farmers Bank. The SBA made the loan possible by guaranteeing $127,612 of this Arkansas small business loan.

SBA Loan Borrower

COMPANY TYPE: DRAFTING SERVICES
MONTICELLO, AR 71655

SBA Loan Lender

MERCHANTS & FARMERS BANK
500 HWY 65 SOUTH
DUMAS, AR 71639

This debt financing was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541340 - Drafting Services

Loan Approval Date

11/20/2001

Loan Approval Gross Amount

$170,150

Loan Approval from the SBA

Of the total $170,150 loan amount, the SBA guaranteed $127,612.

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 3 employees. This SBA loan request did not indicate that the business promised to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Merchants & Farmers 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:

Bank Credit Lines

Where to Get an SBA Loan in Dumas, Arkansas

SBA Lenders in Arkansas