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May 7, 2024 |
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| Home > Small Business Lenders by State > Oklahoma Business Loan Sources > Laredo, Business Loans > International Bank Of Commerce Laredo Business Loans > Electrical Contractors And Wiring Installation Contractors Loan | ||||
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How Do We Get a Business Loan in Moore, Oklahoma?
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Loans for Electrical Contractors and Wiring Installation ContractorsLooking for loans for electrical contractors and wiring installation contractors? The SBA may be the answer. This $25,000 electrical contractors and wiring installation contractors loan was issued by a Texas bank. This small firm knew how to go about getting a business bank loan. Based in Moore, Oklahoma, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was International Bank Of Commerce, based in Laredo, Texas. SBA Loan Borrower COMPANY TYPE: ELECTRICAL CONTRACTORS AND WIRING INSTALLATION CONTRACTORS SBA Loan Lender INTERNATIONAL BANK OF COMMERCE This SBA 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 238210 - Electrical Contractors and Wiring Installation Contractors Loan Approval Date 10/7/2004 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $12,500. 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 2 employees. The SBA loan application for the borrower indicated that the loan would help retain 2 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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 Best Laredo, Texas Banks for Small Business SBA Participating Banks in Texas
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