Getting an SBA Loan for Third Party Administration of Insurance and Pension Funds

Looking for commercial loans for third party administration of insurance and pension funds? Talk to a banker who works with the SBA. This $20,000 third party administration of insurance and pension funds loan was issued by an Arkansas bank.

Getting a small business loan in Paragould, Arkansas was important for this business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Focus Bank, operating out of Paragould, Arkansas. Here are the details on this Arkansas small business loan.

SBA Loan Borrower

COMPANY TYPE: THIRD PARTY ADMINISTRATION OF INSURANCE AND PENSION FUNDS
PARAGOULD, AR 72450

SBA Loan Lender

FOCUS BANK
3005 W KINGSHIGHWAY
PARAGOULD, AR 72450

This lender issued this small business loan under the SBA's 7A loan, 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

524292 - Third Party Administration of Insurance and Pension Funds

Loan Approval Date

1/13/2005

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $17,000.

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 2 employees. This SBA loan request did not indicate that the business planned 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?

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.

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 $20,000 loan. Remember, feel the fear, and do it anyway.

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:

The Art of Bootstrapping

Where to Get an SBA Loan in Paragould, Arkansas

Arkansas SBA 7A Lenders