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May 3, 2024 |
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| Home > Small Business Lenders by State > Oklahoma Business Loan Sources > Oklahoma City, Business Loans > First National Bank - Oklahoma Oklahoma City Business Loans > Food Crops Grown Under Cover Loan | ||||
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Oklahoma SBA Banks
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Oklahoma City, Oklahoma Lender Lends Money to Food Crops Grown Under Cover CompanyWant to talk with an Oklahoma City, Oklahoma bank about an SBA loan? Here's one Oklahoma business loan, issued by an Oklahoma City bank, that was approved by the SBA. Applying for an SBA loan with First National Bank - Oklahoma worked out well for our friends at one local firm in Ponca City, Oklahoma. The business was able to get an SBA loan for $70,800. Way to go! SBA Loan Borrower COMPANY TYPE: FOOD CROPS GROWN UNDER COVER SBA Loan Lender FIRST NATIONAL BANK - OKLAHOMA This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 111419 - Food Crops Grown Under Cover Loan Approval Date 8/1/2002 Loan Approval Gross Amount $70,800 Loan Approval from the SBA Of the total $70,800 loan amount, the SBA guaranteed $60,180. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to add employees or retain any existing employees. Getting an SBA Loan For Your Business The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into First National Bank - Oklahoma and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Realistic Debt Financing Options SBA 7A Lenders in Oklahoma City, Oklahoma
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