Pine Bluff, Arkansas Bank Lends Money to Drycleaning And Laundry Services Company in Pine Bluff, Arkansas

A Pine Bluff, Arkansas small business loan can be yours. Learn how a business got a $108,000 business loan from this Arkansas bank.

This loan to an entrepreneur is a good example of an SBA loan. Simmons First National Bank made the loan and the SBA guaranteed a portion of the loan. Many other Arkansas entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES
PINE BLUFF, AR 71603

SBA Loan Lender

SIMMONS FIRST NATIONAL BANK
501 MAIN ST
PINE BLUFF, AR 71601

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.

NAICS Code

812320 - Drycleaning and Laundry Services

Loan Approval Date

2/12/2001

Loan Approval Gross Amount

$108,000

Loan Approval from the SBA

Of the total $108,000 loan amount, the SBA guaranteed $91,800.

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 loan application did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

We've showcased information on this loan to let you know that businesses like yours 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:

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Getting an SBA Loan in Arkansas