Arkansas SBA Loan Issued to Photography Studios, Portrait Company

ArkansasSmall business loans are available to Arkansas small business owners through the SBA. In this case, an Arkansas bank provides the loan.

This company, based in Russellville, Arkansas, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Simmons 1st Bank - Russellville. We've got the inside scoop on this Arkansas small business loan.

SBA Loan Borrower

COMPANY TYPE: PHOTOGRAPHY STUDIOS, PORTRAIT
RUSSELLVILLE, AR 72801

SBA Loan Lender

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

This lender processed this SBA small business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

541921 - Photography Studios, Portrait

Loan Approval Date

1/6/2006

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $20,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 3 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans provide smart, affordable business financing for small businesses looking to expand.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Simmons 1st Bank - Russellville and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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

Best Banks for Small Business in Russellville, Arkansas

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