Little Rock, Arkansas Bank Lends Money to Legal Services Company in North Little Rock, Arkansas

Get to know Little Rock, Arkansas banks that specialize in business loans and know how to work with entrepreneurs. Metropolitan National Bank is one such bank, as evidenced by this SBA loan to a growing company.

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

SBA Loan Borrower

COMPANY TYPE: LEGAL SERVICES
NORTH LITTLE ROCK, AR 72119

SBA Loan Lender

METROPOLITAN NATIONAL BANK
425 W CAPITOL AVE
LITTLE ROCK, AR 72201

This lender issued this SBA loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program began 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.

SIC Code

8111 - Legal Services

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

10/5/2000

Loan Approval Gross Amount

$149,500

Loan Approval from the SBA

Of the total $149,500 loan amount, the SBA guaranteed $112,125.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you need business start up money in North Little Rock AR, you ought to talk with a local North Little Rock SBA lender or talk with an out-of-area SBA lender that has previously loaned money to North Little Rock businesses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $149,500 loan. Remember, if it to be, it is up to me!

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:

Determining Proper Capital Structure for a Business

SBA 7A Lenders in Little Rock, Arkansas

Arkansas SBA 7A Banks