Mountain Home, Arkansas Lender Lends Money to Automotive Exhaust System Repair Company

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

Applying for an SBA loan with Liberty Bank Of Arkansas worked out well for our friends at one local company in Mountain Home, Arkansas. They received an SBA loan for $36,500. Nice!

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE EXHAUST SYSTEM REPAIR
MOUNTAIN HOME, AR 72653

SBA Loan Lender

LIBERTY BANK OF ARKANSAS
665 HWY 62 NE
MOUNTAIN HOME, AR 72653

This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811112 - Automotive Exhaust System Repair

Loan Approval Date

3/12/2003

Loan Approval Gross Amount

$36,500

Loan Approval from the SBA

Of the total $36,500 loan amount, the SBA guaranteed $31,025.

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 only one employee. This SBA loan request did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Every year, the SBA guarantees over $10 billion for loans just like this one.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Small Business Credit Cards

SBA Participating Banks in Mountain Home, Arkansas

SBA Arkansas Banks