Local Business Gets an Arkansas Business Loan

ArkansasBusiness loans are available to Arkansas business owners through the SBA. In this case, an Arkansas bank provides the loan.

Getting a small business loan in Mountain Home, Arkansas was a top priority for this SBA-financed company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Community 1st National Bank - W. Pla. Here are the details on this Arkansas small business loan.

SBA Loan Borrower

COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANERS
MOUNTAIN HOME, AR 72653

SBA Loan Lender

COMMUNITY 1ST NATIONAL BANK - W. PLA
310 HWY 62 EAST
MOUNTAIN HOME, AR 72653

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This debt financing was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812310 - Coin-Operated Laundries and Drycleaners

Loan Approval Date

4/10/2007

Loan Approval Gross Amount

$76,960

Loan Approval from the SBA

Of the total $76,960 loan amount, the SBA guaranteed $65,416.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the loan would help retain 2 existing jobs.

Getting an SBA Loan For Your Business

If you need money to start a small business or already have a business and need money to expand, an SBA loan can be a great funding source

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Community 1st National Bank - W. Pla had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Community 1st National Bank - W. Pla 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.

Related Links:

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Small Business Banks in Mountain Home, Arkansas

SBA Participating Banks in Arkansas