Simmons 1st Bank - So. Arkansas SBA Loan to Manufacturing Industries Company

Searching for an Arkansas small business loan? Here's one Arkansas business loan that was approved by the SBA.

This small business needed an SBA business loan in Sheridan, Arkansas back in 2000 and, after submitting their loan application, they were successful in getting an SBA loan from Simmons 1st Bank - So. Arkansas, operating out of Monticello, Arkansas. Here are the details on this Arkansas small business loan.

SBA Loan Borrower

COMPANY TYPE: MANUFACTURING INDUSTRIES
SHERIDAN, AR 72150

SBA Loan Lender

SIMMONS 1ST BANK - SO. ARKANSAS
473 HWY 425 NORTH
MONTICELLO, AR 71655

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3999 - Manufacturing Industries

Loan Approval Date

5/5/2000

Loan Approval Gross Amount

$65,100

Loan Approval from the SBA

Of the total $65,100 loan amount, the SBA guaranteed $52,080.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

This SBA loan was for $65,100. How would you spend $65,100 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.

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