Getting an SBA Loan for Optical Goods Stores

With these SBA loans for optical goods stores, the SBA guarantees the lender that the loan will be repaid. This optical goods stores loan for $63,400 was given to an Oklahoma entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Oklahoma City, Oklahoma was able to borrow $63,400 from Bank Of Hydro. The SBA made the loan possible by guaranteeing $53,890 of this Oklahoma small business loan.

SBA Loan Borrower

COMPANY TYPE: OPTICAL GOODS STORES
OKLAHOMA CITY, OK 73132

SBA Loan Lender

BANK OF HYDRO
146 W MAIN ST
HYDRO, OK 73048

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

446130 - Optical Goods Stores

Loan Approval Date

1/18/2002

Loan Approval Gross Amount

$63,400

Loan Approval from the SBA

Of the total $63,400 loan amount, the SBA guaranteed $53,890.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $63,400 loan. Remember, anyone can do it... so why not you?

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

Where to Get an SBA Loan in Hydro, Oklahoma

SBA Participating Banks in Oklahoma