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May 4, 2024 |
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| Home > Small Business Lenders by State > Oklahoma Business Loan Sources > Oklahoma City, Business Loans > Union Bank Oklahoma City Business Loans > Crude Petroleum And Natural Gas Loan | ||||
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SBA Lenders in Oklahoma
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Kingfisher, Oklahoma Business Gets SBA-Guaranteed Funding from Union BankUnion 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. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Kingfisher, Oklahoma was able to borrow $331,000 from Union Bank. The SBA made the loan possible by guaranteeing $248,250 of this Oklahoma small business loan. SBA Loan Borrower COMPANY TYPE: CRUDE PETROLEUM AND NATURAL GAS SBA Loan Lender UNION BANK This lender issued this business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1311 - Crude Petroleum and Natural Gas NAICS Code 211111 - Crude Petroleum and Natural Gas Loan Approval Date 4/13/2000 Loan Approval Gross Amount $331,000 Loan Approval from the SBA Of the total $331,000 loan amount, the SBA guaranteed $248,250. 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 11 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees. 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. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Union Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: The Friends and Family Network Best Banks for Small Business in Oklahoma City, Oklahoma
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