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May 14, 2024 |
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| Home > Small Business Lenders by State > Oklahoma Business Loan Sources > Catoosa, Business Loans > Bank Of Commerce Catoosa Business Loans > Toys And Hobby Goods And Supplies Loan | ||||
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SBA Lender Oklahoma
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Business Loan from Bank Of Commerce Given to Toys And Hobby Goods And Supplies CompanyBank Of Commerce has a track record as a leading provider of SBA loans. Find out how this Oklahoma entrepreneur received an SBA loan from them. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Grove, Oklahoma was able to borrow $510,662 from Bank Of Commerce. The SBA made the loan possible by guaranteeing $382,996 of this Oklahoma small business loan. SBA Loan Borrower COMPANY TYPE: TOYS AND HOBBY GOODS AND SUPPLIES SBA Loan Lender BANK OF COMMERCE The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide small business loans to to our country's hard-working small business owners. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5092 - Toys and Hobby Goods and Supplies NAICS Code 421920 - Toy and Hobby Goods and Supplies Wholesalers Loan Approval Date 4/12/2000 Loan Approval Gross Amount $510,662 Loan Approval from the SBA Of the total $510,662 loan amount, the SBA guaranteed $382,996. 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 9 employees. The SBA loan application for the borrower did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. 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: Find an SBA Lender in Catoosa, Oklahoma
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