SBA Loan from Simmons 1st Bank - Russellville Helps General Merchandise Stores Company

Simmons 1st Bank - Russellville and the SBA work together to get business loans for growing small businesses. Here's an example of how an Arkansas entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Pottsville, Arkansas was an essential business goal for this firm back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Simmons 1st Bank - Russellville, operating out of Russellville, Arkansas. Here are the details on this Arkansas small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL MERCHANDISE STORES
POTTSVILLE, AR 72858

SBA Loan Lender

SIMMONS 1ST BANK - RUSSELLVILLE
800 N ARKANSAS
RUSSELLVILLE, AR 72801

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

452990 - General Merchandise Stores

Loan Approval Date

4/18/2006

Loan Approval Gross Amount

$122,600

Loan Approval from the SBA

Of the total $122,600 loan amount, the SBA guaranteed $61,300.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help generate 10 new jobs and retain 1 existing job.

Start the Process for Getting an SBA Loan Today!

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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 - How to Borrow Money

SBA Approved Banks in Russellville, Arkansas

Where to Get an SBA Loan Arkansas