Oklahoma City, Oklahoma Bank Lends Money to Machine Tools, Metal Cutting Types Company in Tecumseh, Oklahoma
Find Oklahoma City, Oklahoma banks that specialize in small business loans and know how to work with entrepreneurs. Bank - Oklahoma is one such bank, as evidenced by this SBA loan to one business.
Finding a small business loan in Tecumseh, Oklahoma starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from Bank - Oklahoma. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.
SBA Loan Borrower
COMPANY TYPE: MACHINE TOOLS, METAL CUTTING TYPES
TECUMSEH, OK 74873
SBA Loan Lender
BANK - OKLAHOMA
7701 S WESTERN
OKLAHOMA CITY, OK 73139
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.
SIC Code
3541 - Machine Tools, Metal Cutting Types
NAICS Code
333512 - Machine Tool Manufacturing
Loan Approval Date
8/22/2000
Loan Approval Gross Amount
$126,000
Loan Approval from the SBA
Of the total $126,000 loan amount, the SBA guaranteed $94,500.
More Information on This SBA Loan
The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 4 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.
Getting an SBA Loan For Your Business
SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.
This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.
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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