Promoters of Performing Arts, Sports, and Similar Events with Facilities Commercial Loans

With these commercial loans for promoters of performing arts, sports, and similar events with facilities, the SBA guarantees the lender that the loan will be repaid. This promoters of performing arts, sports, and similar events with facilities loan for $112,500 was given to an Arkansas entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Rogers, Arkansas was able to borrow $112,500 from Chambers Bank - No. Arkansas. The SBA made the loan possible by guaranteeing $95,625 of this Arkansas small business loan.

SBA Loan Borrower

COMPANY TYPE: THEATRICAL PRODUCERS
ROGERS, AR 72757

SBA Loan Lender

CHAMBERS BANK - NO. ARKANSAS
1685 E JOYCE BLVD
FAYETTEVILLE, AR 72703

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

7922 - Theatrical Producers

NAICS Code

711310 - Promoters of Performing Arts, Sports, and Similar Events with Facilities

Loan Approval Date

11/7/2002

Loan Approval Gross Amount

$112,500

Loan Approval from the SBA

Of the total $112,500 loan amount, the SBA guaranteed $95,625.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 3 employees. The SBA loan documents did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Chambers Bank - No. Arkansas are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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