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November 15, 2024 |
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| Home > Small Business Lenders by State > Arkansas Business Loan Sources > Springdale, Business Loans > Simmons 1st Bank - N.W. Arkansas Springdale Business Loans > Drycleaning And Laundry Services Loan | ||||
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Simmons 1st Bank - N.W. Arkansas
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SBA Loan from Simmons 1st Bank - N.W. Arkansas Helps Drycleaning And Laundry Services CompanyAn SBA loan from Simmons 1st Bank - N.W. Arkansas typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Springdale, Arkansas business owner got a $400,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Springdale, Arkansas was able to borrow $400,000 from Simmons 1st Bank - N.W. Arkansas. The SBA made the loan possible by guaranteeing $300,000 of this Arkansas small business loan. SBA Loan Borrower COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES SBA Loan Lender SIMMONS 1ST BANK - N.W. ARKANSAS SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812320 - Drycleaning and Laundry Services Loan Approval Date 5/27/2005 Loan Approval Gross Amount $400,000 Loan Approval from the SBA Of the total $400,000 loan amount, the SBA guaranteed $300,000. 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 25 employees. The loan application did not indicate that the business promised to use the money to add employees or retain any existing employees. Next Steps for Getting an SBA Loan Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Simmons 1st Bank - N.W. Arkansas that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Where to Get an SBA Loan in Springdale, Arkansas
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