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November 15, 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 > Leather Goods Loan | ||||
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Warren, Arkansas Bank Loan
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SBA Loans for Leather Good and Allied Product ManufacturingWith these SBA loans for leather good and allied product manufacturing, the SBA guarantees the lender that the loan will be repaid. This leather good and allied product manufacturing loan for $550,000 was given to an Arkansas entrepreneur in 2000. This small business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Arkansas Capital Corporation, out of Little Rock, Arkansas. The loan was granted and they received $550,000 to help grow their Warren, Arkansas business. SBA Loan Borrower COMPANY TYPE: LEATHER GOODS SBA Loan Lender ARKANSAS CAPITAL CORPORATION This bank 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. SIC Code 3199 - Leather Goods NAICS Code 316999 - Leather Good and Allied Product Manufacturing Loan Approval Date 3/28/2000 Loan Approval Gross Amount $550,000 Loan Approval from the SBA Of the total $550,000 loan amount, the SBA guaranteed $412,500. 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 90 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees. Getting an SBA Loan For Your Business SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Arkansas Capital Corporation and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Obtaining Funding - Friends and Family Best Banks for Small Business in Little Rock, Arkansas
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