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| Entrepreneur Resources | Arvest Bank Tulsa Business Loans | ||||
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Arkansas Small Business Funding
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Where to Get Capital for Motor Vehicle Supplies and New Parts Merchant WholesalersLooking for SBA loans for motor vehicle supplies and new parts merchant wholesalers? Try the SBA. This $42,800 motor vehicle supplies and new parts merchant wholesalers loan was issued by an Oklahoma bank.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Harrison, Arkansas was able to borrow $42,800 from Arvest Bank. The SBA made the loan possible by guaranteeing $21,400 of this Arkansas small business loan. SBA Loan Borrower Dale W. Boggus dba Superior Tool Sales SBA Loan Lender ARVEST BANK This lender processed this SBA business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 423120 - Motor Vehicle Supplies and New Parts Merchant Wholesalers Loan Approval Date 11/3/2006 Loan Approval Gross Amount $42,800 Loan Approval from the SBA Of the total $42,800 loan amount, the SBA guaranteed $21,400. More Information on This SBA Loan The borrower, Dale W. Boggus Dba Superior Tool Sales, borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 1 new job. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! About This SBA Loan Information: All SBA loan data displayed above comes from the government's SBA loan database. Related Links: Determining Proper Capital Structure for a Business SBA 7A Banks for Tulsa, Oklahoma Loans If you are an ambitious entrepreneur or an aspiring executive looking to get involved with a startup, please take the time to learn more about Gaebler Ventures.
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