Marion, Arkansas Bank Lends Money to Car Washes Company in West Memphis, Arkansas

Get business loans from a Marion, Arkansas bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too.

First Commun Bank - Eastern Arka is a Marion, Arkansas small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to an Arkansas company.

SBA Loan Borrower

COMPANY TYPE: CAR WASHES
WEST MEMPHIS, AR 72301

SBA Loan Lender

FIRST COMMUN BANK - EASTERN ARKA
205 BLOCK ST
MARION, AR 72364

This business 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

811192 - Car Washes

Loan Approval Date

8/20/2004

Loan Approval Gross Amount

$178,500

Loan Approval from the SBA

Of the total $178,500 loan amount, the SBA guaranteed $133,875.

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 5 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First Commun Bank - Eastern Arka 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:

Business Credit Evaluation

SBA 7A Lenders in Marion, Arkansas

Arkansas SBA 7A Banks