Business Loan from Benefit Bank Given to General Long-Distance Freight Trucking Company

Benefit Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how an Arkansas entrepreneur was able to get a loan to take a small business to the next level.

This growing company knew how to go about getting a business bank loan. Based in Van Buren, Arkansas, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Benefit Bank, based in Fort Smith, Arkansas.

SBA Loan Borrower

COMPANY TYPE: GENERAL LONG-DISTANCE FREIGHT TRUCKING
VAN BUREN, AR 72856

SBA Loan Lender

BENEFIT BANK
8300 PHOENIX AVE
FORT SMITH, AR 72903

This lender issued this particular SBA bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

484121 - General Long-Distance Freight Trucking

Loan Approval Date

1/25/2005

Loan Approval Gross Amount

$84,000

Loan Approval from the SBA

Of the total $84,000 loan amount, the SBA guaranteed $71,400.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

This SBA loan was for $84,000. How would you spend $84,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Raising VC Money for Social Networking Companies

SBA Participating Banks in Fort Smith, Arkansas

Arkansas SBA 7A Lenders