Legacy National Bank Gives SBA Loan to Radio Stations 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.

You can learn something about getting a small business loan in Springdale, Arkansas by studying this loan to a local business, made back in 2005. Banks like Legacy National Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: RADIO STATIONS
SPRINGDALE, AR 72764

SBA Loan Lender

LEGACY NATIONAL BANK
4055 W SUNSET
SPRINGDALE, AR 72762

This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

515112 - Radio Stations

Loan Approval Date

4/20/2005

Loan Approval Gross Amount

$1,732,000

Loan Approval from the SBA

Of the total $1,732,000 loan amount, the SBA guaranteed $1,299,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Legacy National Bank 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:

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Who Lends Money to Small Businesses in Springdale, Arkansas

Getting an SBA Loan in Arkansas