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November 15, 2024 |
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| Home > Small Business Lenders by State > Arkansas Business Loan Sources > North Little Rock, Business Loans > Twin City Bank North Little Rock Business Loans > Security Systems Services Loan | ||||
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Twin City Bank Sherwood, Arkansas
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Business Loan from Twin City Bank Given to Security Systems Services CompanyAn SBA loan from Twin City Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Sherwood, Arkansas business owner got a $300,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Sherwood, Arkansas was able to borrow $300,000 from Twin City Bank. The SBA made the loan possible by guaranteeing $225,000 of this Arkansas small business loan. SBA Loan Borrower COMPANY TYPE: SECURITY SYSTEMS SERVICES SBA Loan Lender TWIN CITY BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA bank loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 561621 - Security Systems Services Loan Approval Date 4/22/2002 Loan Approval Gross Amount $300,000 Loan Approval from the SBA Of the total $300,000 loan amount, the SBA guaranteed $225,000. More Information on This SBA Loan The borrower borrowed this money for an existing 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 25 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business 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. 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 Twin City Bank 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: Who Lends Money to Small Businesses in North Little Rock, Arkansas
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