Oklahoma SBA Loan Issued to Offices And Clinics Of Chiropractors Company
Bank loans in Oklahoma are are few and far betweeen these days. We take a look at one Oklahoma bank loan, provided by an Oklahoma bank, that was approved by the SBA.
This business, based in Tulsa, Oklahoma, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Midfirst Bank. We've got the inside scoop on this Oklahoma small business loan.
SBA Loan Borrower
COMPANY TYPE: OFFICES AND CLINICS OF CHIROPRACTORS
TULSA, OK 74159
SBA Loan Lender
321 S BOSTON AVE
TULSA, OK 74103
This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.
SBA Loan Program Type
This loan was issued as a general business loan.
8041 - Offices and Clinics of Chiropractors
621310 - Chiropractors
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $50,000 loan amount, the SBA guaranteed $40,000.
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 only one employee. The loan application did not indicate that the small business planned to use the money to hire new employees or retain any existing employees.
Next Steps for Getting an SBA Loan
Every year, the SBA guarantees over $10 billion for loans just like this one.
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 Midfirst Bank 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.
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