Entrepreneur Works With Morrilton, Arkansas Bank to Get an SBA Loan

Thinking about meeting with a Morrilton, Arkansas bank about an SBA loan? Here's one Arkansas business loan, issued by a Morrilton bank, that was approved by the SBA.

Applying for an SBA loan with Petit Jean State Bank worked out well for our friends at one local firm in Morrilton, Arkansas. They received an SBA loan for $160,000. Nice!

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
MORRILTON, AR 72110

SBA Loan Lender

PETIT JEAN STATE BANK
707 N ST. JOSEPH ST
MORRILTON, AR 72110

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.

SIC Code

5812 - Eating Places

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

12/5/2000

Loan Approval Gross Amount

$160,000

Loan Approval from the SBA

Of the total $160,000 loan amount, the SBA guaranteed $120,000.

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. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Petit Jean State Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Petit Jean State Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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