Borrowing Money for Single Family Housing Construction

Looking for loans for single family housing construction? The SBA may be the answer. This $25,000 single family housing construction loan was issued by an Arkansas bank.

This company received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Arvest Bank, out of Siloam Springs, Arkansas. The loan was granted and they received $25,000 to help grow their Siloam Springs, Arkansas business.

SBA Loan Borrower

COMPANY TYPE: SINGLE FAMILY HOUSING CONSTRUCTION
SILOAM SPRINGS, AR 72761

SBA Loan Lender

ARVEST BANK
1645 HWY 412 WEST
SILOAM SPRINGS, AR 72761

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

233210 - Single Family Housing Construction

Loan Approval Date

1/5/2001

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $21,250.

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 3 employees. This SBA loan request did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a company in Siloam Springs AR, you ought to talk with a local Siloam Springs SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Siloam Springs businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Accountant's Role in Securing Financing

Small Business Banks in Siloam Springs, Arkansas

SBA Arkansas Lenders