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Joshua Financing.


The owner of three commercial projects in Little Rock picked up a $732,000 financial package.

JM Products Inc., led by Michael Joshua, received the three-year loan from Arvest Bank of Little Rock.

The properties previously were tied to a March 1995 mortgage of $380,000 held by Little Rock's Worthen National Bank of Arkansas. The funding is secured by three properties:

* The 0.32-acre Professional Beauty & Barber Center I at 2501 S. Arch St., bought for $96,000 in April 1983 from Samuel Phillips.

* The 0.6-acre JM Products facility at 3120 Joshua St., assembled in four buys totaling $83,000 from Bobby and Ray Fox and Darrell and Rachel Davis, $24,000 each in July 1997; Evalou Cash, $20,000 in October 1995; and Bernice Rice and Emily Rice Holt, $15,000.

* The 0.32-acre Professional Beauty & Barber Center II at 1418 W. 14th St., purchased in two deals totaling $95,000 from Shirley McCrary and John Norman Sr., $60,000 in November 1989; and Spencer Burroughs, $35,000 in April 1991.

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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2001 Gale, Cengage Learning. All rights reserved.

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Title Annotation:Arvest Bank; JM Products Inc.gets financing from
Comment:Joshua Financing.(JM Products Inc.gets financing from)(Arvest Bank)
Author:WALDON, GEORGE
Publication:Arkansas Business
Article Type:Brief Article
Geographic Code:1USA
Date:Sep 17, 2001
Words:174
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