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November 15, 2024 |
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| Home > Small Business Lenders by State > Arkansas Business Loan Sources > Mountain Home, Business Loans > First National Bank & Trust Mountain Home Business Loans > Fitness And Recreational Sports Centers Loan | ||||
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Arkansas Small Business Funding
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Business Loans for Fitness and Recreational Sports CentersLooking for business loans for fitness and recreational sports centers? An SBA loan may be just what you've been looking for. This $45,000 fitness and recreational sports centers loan was issued by an Arkansas bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Mountain Home, Arkansas was able to borrow $45,000 from First National Bank & Trust. The SBA made the loan possible by guaranteeing $38,250 of this Arkansas small business loan. SBA Loan Borrower COMPANY TYPE: FITNESS AND RECREATIONAL SPORTS CENTERS SBA Loan Lender FIRST NATIONAL BANK & TRUST This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 713940 - Fitness and Recreational Sports Centers Loan Approval Date 8/8/2002 Loan Approval Gross Amount $45,000 Loan Approval from the SBA Of the total $45,000 loan amount, the SBA guaranteed $38,250. 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 only one employee. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees. Getting an SBA Loan For Your Business The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like First National Bank & Trust are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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. Related Links: Small Bank Loans in Mountain Home, Arkansas
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