Pearcy, Arkansas Business Gets SBA-Guaranteed Funding from Summit Bank

An SBA loan from Summit Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Pearcy, Arkansas business owner got a $145,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Pearcy, Arkansas was able to borrow $145,000 from Summit Bank. The SBA made the loan possible by guaranteeing $108,750 of this Arkansas small business loan.

SBA Loan Borrower

COMPANY TYPE: HEAVY CONSTRUCTION
PEARCY, AR 71964

SBA Loan Lender

SUMMIT BANK
401 SECTION LINE RD
HOT SPRINGS, AR 71913

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.

SIC Code

1629 - Heavy Construction

Loan Approval Date

9/25/2000

Loan Approval Gross Amount

$145,000

Loan Approval from the SBA

Of the total $145,000 loan amount, the SBA guaranteed $108,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great way to raise money

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Obtaining Funding - Getting Venture Capital

SBA Approved Banks in Hot Springs, Arkansas

Arkansas SBA Bank Lenders