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November 14, 2024 |
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| Home > Small Business Lenders by State > Arkansas Business Loan Sources > Little Rock, Business Loans > Arkansas Capital Corporation Little Rock Business Loans > Office Furniture Manufacturing Loan | ||||
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Business Loan from Arkansas Capital Corporation
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Arkansas Capital Corporation SBA Loan to Office Furniture Manufacturing CompanyAn SBA loan from Arkansas Capital Corporation typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Springdale, Arkansas business owner got a $235,000 loan. Getting a small business loan in Springdale, Arkansas was an essential business goal for this firm back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Arkansas Capital Corporation, operating out of Little Rock, Arkansas. Here are the details on this Arkansas small business loan. SBA Loan Borrower COMPANY TYPE: OFFICE FURNITURE MANUFACTURING SBA Loan Lender ARKANSAS CAPITAL CORPORATION The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide small business loans to to our country's hard-working small business owners. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 337214 - Office Furniture Manufacturing Loan Approval Date 6/25/2001 Loan Approval Gross Amount $235,000 Loan Approval from the SBA Of the total $235,000 loan amount, the SBA guaranteed $176,250. 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 13 employees. The loan application did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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: A Company That Helps Entrepreneurs SBA Participating Banks in Little Rock, Arkansas
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