Owasso, Oklahoma Bank Gives SBA Loan to Beauty Salons Company

Find Owasso, Oklahoma banks that specialize in business loans and know how to work with entrepreneurs. First Bank Of Owasso is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Owasso, Oklahoma starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from First Bank Of Owasso. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
OWASSO, OK 74055

SBA Loan Lender

FIRST BANK OF OWASSO
102 W 2ND AVE
OWASSO, OK 74055

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

12/5/2002

Loan Approval Gross Amount

$9,740

Loan Approval from the SBA

Of the total $9,740 loan amount, the SBA guaranteed $8,279.

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 8 employees. The loan application did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

This SBA loan was for $9,740. How would you spend $9,740 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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