Mountain Home, Arkansas Bank Lends Money to Limited-Service Restaurants Company in Salesville, Arkansas

Thinking about meeting with a Mountain Home, Arkansas bank about an SBA loan? Here's one Arkansas business loan, issued by a Mountain Home bank, that was approved by the SBA.

Applying for an SBA loan with First Security Bank - Mountain H worked out well for our friends at one local business in Salesville, Arkansas. They got an SBA loan for $51,100. Way to go!

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
SALESVILLE, AR 72653

SBA Loan Lender

FIRST SECURITY BANK - MOUNTAIN H
105 E 9TH ST
MOUNTAIN HOME, AR 72653

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

722211 - Limited-Service Restaurants

Loan Approval Date

5/9/2006

Loan Approval Gross Amount

$51,100

Loan Approval from the SBA

Of the total $51,100 loan amount, the SBA guaranteed $25,550.

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 6 employees. This SBA loan request indicated that the loan would help create 6 new jobs.

Next Steps for Getting an SBA Loan

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.

This SBA loan was for $51,100. How would you spend $51,100 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

How Equity Dilution Works

Where to Get an SBA Loan in Mountain Home, Arkansas

Getting a Business Loan in Arkansas