Nondurable Goods Wholesalers Bank Loans

With these bank loans for nondurable goods wholesalers, the SBA guarantees the lender that the loan will be repaid. This nondurable goods wholesalers loan for $80,000 was given to an Arkansas entrepreneur in 2000.

This company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Bank - Arkansas, out of Rogers, Arkansas. The loan was granted and they received $80,000 to help grow their Rogers, Arkansas business.

SBA Loan Borrower

COMPANY TYPE: NONDURABLE GOODS
ROGERS, AR 72756

SBA Loan Lender

BANK - ARKANSAS
2000 W WALNUT
ROGERS, AR 72756

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5199 - Nondurable Goods

NAICS Code

422990 - Nondurable Goods Wholesalers

Loan Approval Date

3/21/2000

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $64,000.

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 8 employees. The loan application did not indicate that the business promised to use the funding to add 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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bank - Arkansas had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bank - Arkansas made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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.

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