Bank - Oklahoma Gives SBA Loan to Motor Vehicle Dealers Company

OklahomaBusiness loans are available to Oklahoma business owners through the SBA. In this case, an Oklahoma bank provides the loan.

By giving the right information to Bank - Oklahoma, this Oklahoma City, Oklahoma business was able to get an SBA loan. To get this loan, the business owner gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE DEALERS
OKLAHOMA CITY, OK 73108

SBA Loan Lender

BANK - OKLAHOMA
7701 S WESTERN
OKLAHOMA CITY, OK 73139

This lender issued this particular loan for a small business 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.

SIC Code

5521 - Motor Vehicle Dealers

NAICS Code

532120 - Truck, Utility Trailer, and RV Rental and Leasing

Loan Approval Date

10/24/2000

Loan Approval Gross Amount

$81,600

Loan Approval from the SBA

Of the total $81,600 loan amount, the SBA guaranteed $65,280.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the business planned to use the funding to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Don't apply for a loan directly with the SBA. You need to 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.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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