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November 15, 2024 |
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| Home > Small Business Lenders by State > Arkansas Business Loan Sources > Little Rock, Business Loans > Arkansas Capital Corporation Little Rock Business Loans > Racetracks Loan | ||||
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SBA Lender Little Rock, Arkansas
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Little Rock, Arkansas Bank Lends Money to Racetracks Company in Monticello, ArkansasThinking about meeting with a Little Rock, Arkansas bank about a business loan? Here's one Arkansas business loan, issued by a Little Rock bank, that was approved by the SBA. Applying for an SBA loan with Arkansas Capital Corporation worked out well for our friends at one local business in Monticello, Arkansas. They received an SBA loan for $369,600. Nice! SBA Loan Borrower COMPANY TYPE: RACETRACKS SBA Loan Lender ARKANSAS CAPITAL CORPORATION SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 711212 - Racetracks Loan Approval Date 6/6/2005 Loan Approval Gross Amount $369,600 Loan Approval from the SBA Of the total $369,600 loan amount, the SBA guaranteed $277,200. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the small business promised 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? The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Arkansas Capital Corporation and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Borrowing Money from Friends and Family SBA Approved Banks in Little Rock, Arkansas
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