Arkansas Business Loan Issued to Elementary And Secondary Schools Company

Searching for an Arkansas business loan? This Arkansas entrepreneur got a business loan, provided by an Arkansas bank that works with the SBA to help small business owners.

This small business, based in Siloam Springs, 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 - N.W. Arkansas. We've got the inside scoop on this Arkansas small business loan.

SBA Loan Borrower

COMPANY TYPE: ELEMENTARY AND SECONDARY SCHOOLS
SILOAM SPRINGS, AR 72761

SBA Loan Lender

SIMMONS 1ST BANK - N.W. ARKANSAS
111 N 8TH ST
ROGERS, AR 72756

This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

611110 - Elementary and Secondary Schools

Loan Approval Date

12/8/2004

Loan Approval Gross Amount

$135,000

Loan Approval from the SBA

Of the total $135,000 loan amount, the SBA guaranteed $114,750.

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 4 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

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 company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer 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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