Mountain Home, Arkansas Bank Gives SBA Loan to Photography Studios, Portrait Company

Get to know Mountain Home, Arkansas banks that specialize in SBA loans and know how to work with entrepreneurs. Mountain Home Bancshares, Inc. is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Mountain Home, Arkansas starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from Mountain Home Bancshares, Inc.. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: PHOTOGRAPHY STUDIOS, PORTRAIT
MOUNTAIN HOME, AR 72653

SBA Loan Lender

MOUNTAIN HOME BANCSHARES, INC.
502 S HICKORY ST
MOUNTAIN HOME, AR 72653

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541921 - Photography Studios, Portrait

Loan Approval Date

7/1/2002

Loan Approval Gross Amount

$23,500

Loan Approval from the SBA

Of the total $23,500 loan amount, the SBA guaranteed $19,975.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Mountain Home Bancshares, Inc. and they will explain how you can get an SBA loan for your company.

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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