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November 15, 2024 |
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| Home > Small Business Lenders by State > Arkansas Business Loan Sources > Oakland, Business Loans > Innovative Bank Oakland Business Loans > Carpet And Upholstery Cleaning Services Loan | ||||
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Banks for West Memphis, Arkansas Small Business Owners
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Local Business Gets an Arkansas Business LoanBusiness loans in Arkansas are are few and far betweeen these days. We take a look at one Arkansas business loan, provided by a California bank, that was approved by the SBA. This company, based in West Memphis, Arkansas, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Innovative Bank. We've got the inside scoop on this Arkansas small business loan. SBA Loan Borrower COMPANY TYPE: CARPET AND UPHOLSTERY CLEANING SERVICES SBA Loan Lender INNOVATIVE BANK The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA small business loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 561740 - Carpet and Upholstery Cleaning Services Loan Approval Date 8/15/2007 Loan Approval Gross Amount $10,000 Loan Approval from the SBA Of the total $10,000 loan amount, the SBA guaranteed $8,500. 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 12 employees. The loan application indicated that the loan would help generate 4 new jobs and retain 12 existing jobs. Start the Process for Getting an SBA Loan Today! 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. Innovative Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Innovative Bank 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: SBA 7A Banks in Oakland, California
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