Getting an SBA Loan for Specialty Trade Contractors

Looking for commercial loans for specialty trade contractors? An SBA loan may be just what you've been looking for. This $250,000 specialty trade contractors loan was issued by an Arkansas bank.

Getting a small business loan in Springdale, Arkansas was important for this business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Simmons 1st Bank - N.W. Arkansas, operating out of Springdale, Arkansas. Here are the details on this Arkansas small business loan.

SBA Loan Borrower

COMPANY TYPE: SPECIALTY TRADE CONTRACTORS
SPRINGDALE, AR 72762

SBA Loan Lender

SIMMONS 1ST BANK - N.W. ARKANSAS
5106 S THOMPSON
SPRINGDALE, AR 72764

This lender issued this bank loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

238990 - Specialty Trade Contractors

Loan Approval Date

8/11/2006

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 8 employees. The loan application did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Simmons 1st Bank - N.W. Arkansas had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Simmons 1st Bank - N.W. Arkansas made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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

Find an SBA Lender in Springdale, Arkansas

Getting a Business Loan in Arkansas