Broken Arrow, Oklahoma Business Gets SBA-Guaranteed Funding from Midfirst Bank
Midfirst Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how an Oklahoma entrepreneur was able to get a loan to take a small business to the next level.
Getting a small business loan in Broken Arrow, Oklahoma was an essential business goal for this firm back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Midfirst Bank, operating out of Tulsa, Oklahoma. Here are the details on this Oklahoma small business loan.
SBA Loan Borrower
COMPANY TYPE: BEER, WINE, AND LIQUOR STORES
BROKEN ARROW, OK 74012
SBA Loan Lender
321 S BOSTON AVE
TULSA, OK 74103
This lender issued this particular business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.
SBA Loan Program Type
This loan was issued as a general business loan.
445310 - Beer, Wine, and Liquor Stores
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $150,000 loan amount, the SBA guaranteed $127,500.
More Information on This SBA Loan
The borrower borrowed this money for a new 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 small business planned to use the loan proceeds to increase staffing levels or retain any existing employees.
Next Steps for Getting an SBA Loan
SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.
If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Midfirst Bank 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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