Elk Horn Bank & Trust Company SBA Loan to Beauty Shops Company

Searching for an Arkansas small business loan? Here's one Arkansas business loan that was approved by the SBA.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in White Hall, Arkansas was able to borrow $105,000 from Elk Horn Bank & Trust Company. The SBA made the loan possible by guaranteeing $78,750 of this Arkansas small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SHOPS
WHITE HALL, AR 71612

SBA Loan Lender

ELK HORN BANK & TRUST COMPANY
601 MAIN ST
ARKADELPHIA, AR 71923

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7231 - Beauty Shops

Loan Approval Date

6/2/2000

Loan Approval Gross Amount

$105,000

Loan Approval from the SBA

Of the total $105,000 loan amount, the SBA guaranteed $78,750.

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 2 employees. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Elk Horn Bank & Trust Company so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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.

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