Company Gets an Arkansas Bank Loan

SBA loans in Arkansas are tough to come by these days. We take a look at one Arkansas SBA loan, provided by an Arkansas bank, that was approved by the SBA.

Getting a small business loan in North Little Rock, Arkansas was a top priority for this particular business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Arkansas Capital Corporation. Here are the details on this Arkansas small business loan.

SBA Loan Borrower

COMPANY TYPE: FERTILIZER MANUFACTURING
NORTH LITTLE ROCK, AR 72117

SBA Loan Lender

ARKANSAS CAPITAL CORPORATION
200 S. COMMERCE ST., SUITE 40
LITTLE ROCK, AR 72201

This lender issued this SBA small business loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

325314 - Fertilizer Manufacturing

Loan Approval Date

6/13/2002

Loan Approval Gross Amount

$1,918,700

Loan Approval from the SBA

Of the total $1,918,700 loan amount, the SBA guaranteed $993,440.

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 14 employees. The loan application did not indicate that the small business planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

We can help you find the best banks for small businesses in North Little Rock or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Startup Funding Tip

Small Bank Loans in Little Rock, Arkansas

SBA Arkansas Lenders