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April 28, 2024 |
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| Home > Small Business Lenders by State > Oklahoma Business Loan Sources > Oklahoma City, Business Loans > International Bank Of Commerce Oklahoma City Business Loans > Gasoline Stations With Convenience Stores Loan | ||||
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SBA Loans from International Bank Of Commerce
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Business Loan from International Bank Of Commerce Given to Gasoline Stations With Convenience Stores CompanyAn SBA loan from International Bank Of Commerce typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Clinton, Oklahoma business owner got a $15,000 loan. This business knew how to go about getting a business bank loan. Based in Clinton, Oklahoma, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was International Bank Of Commerce, based in Oklahoma City, Oklahoma. SBA Loan Borrower COMPANY TYPE: GASOLINE STATIONS WITH CONVENIENCE STORES SBA Loan Lender INTERNATIONAL BANK OF COMMERCE This business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. 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 447110 - Gasoline Stations with Convenience Stores Loan Approval Date 3/14/2005 Loan Approval Gross Amount $15,000 Loan Approval from the SBA Of the total $15,000 loan amount, the SBA guaranteed $7,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The SBA loan documents indicated that the loan would help retain 6 existing jobs. Next Steps for Getting an SBA Loan SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. 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 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: Banking Deregulation's Effects on Entrepreneurship Where to Get an SBA Loan in Oklahoma City, Oklahoma Find an SBA Lender in Oklahoma
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