Community So. Bank D.B.A Commun SBA Loan to Upholstered Household Furniture Manufacturing Company

An SBA loan from Community So. Bank D.B.A Commun typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Monticello, Arkansas business owner got a $2,000,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Monticello, Arkansas was able to borrow $2,000,000 from Community So. Bank D.B.A Commun. The SBA made the loan possible by guaranteeing $1,500,000 of this Arkansas small business loan.

SBA Loan Borrower

COMPANY TYPE: UPHOLSTERED HOUSEHOLD FURNITURE MANUFACTURING
MONTICELLO, AR 71655

SBA Loan Lender

COMMUNITY SO. BANK D.B.A COMMUN
625 S GAY ST, STE 450
KNOXVILLE, TN 37902

This lender issued this loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 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

337121 - Upholstered Household Furniture Manufacturing

Loan Approval Date

1/18/2006

Loan Approval Gross Amount

$2,000,000

Loan Approval from the SBA

Of the total $2,000,000 loan amount, the SBA guaranteed $1,500,000.

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 165 employees. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer 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.

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