North Little Rock, Arkansas Business Gets SBA-Guaranteed Funding from First State Bank
First State Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Arkansas entrepreneur who tapped into the power of SBA loans.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in North Little Rock, Arkansas was able to borrow $568,300 from First State Bank. The SBA made the loan possible by guaranteeing $426,225 of this Arkansas small business loan.
SBA Loan Borrower
COMPANY TYPE: JANITORIAL SERVICES
NORTH LITTLE ROCK, AR 72118
SBA Loan Lender
FIRST STATE BANK
620 CHESTNUT ST
CONWAY, AR 72032
Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
561720 - Janitorial Services
Loan Approval Date
9/21/2001
Loan Approval Gross Amount
$568,300
Loan Approval from the SBA
Of the total $568,300 loan amount, the SBA guaranteed $426,225.
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 9 employees. The SBA loan documents indicated that the loan would help retain 9 existing jobs.
Next Steps for Getting an SBA Loan
Every year, the SBA guarantees over $10 billion for loans just like this one.
This SBA loan was for $568,300. How would you spend $568,300 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.
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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