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April 25, 2024 |
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| Home > Small Business Lenders by State > Oklahoma Business Loan Sources > Kansas City, Business Loans > Umb Bank Kansas City Business Loans > Women's Clothing Stores Loan | ||||
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SBA Lender Tulsa Oklahoma
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Firm Gets an Oklahoma Business LoanSmall business loans in Oklahoma are tough to come by these days. We take a look at one Oklahoma small business loan, provided by a Missouri bank, that was approved by the SBA. By giving the right information to Umb Bank, this Tulsa, Oklahoma business was able to get an SBA loan. To get this loan, the loan applicant gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: WOMEN'S CLOTHING STORES SBA Loan Lender UMB BANK The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 448120 - Women's Clothing Stores Loan Approval Date 6/21/2005 Loan Approval Gross Amount $100,300 Loan Approval from the SBA Of the total $100,300 loan amount, the SBA guaranteed $85,255. 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 2 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. 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 Umb 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. Related Links: Small Business Banks in Kansas City, Missouri
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