Oklahoma City, Oklahoma Bank Gives SBA Loan to Convenience Stores Company

Get to know Oklahoma City, Oklahoma banks that specialize in business loans and know how to work with entrepreneurs. Midfirst Bank is one such bank, as evidenced by this SBA loan to a growing company.

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

SBA Loan Borrower

COMPANY TYPE: CONVENIENCE STORES
COYLE, OK 73027

SBA Loan Lender

MIDFIRST BANK
501 NW GRAND BLVD
OKLAHOMA CITY, OK 73118

This loan was issued by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a thorough analysis of the loan application and, in return, SBA provides a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445120 - Convenience Stores

Loan Approval Date

10/24/2005

Loan Approval Gross Amount

$537,000

Loan Approval from the SBA

Of the total $537,000 loan amount, the SBA guaranteed $402,750.

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 6 employees. This SBA loan request did not indicate that the small business planned to use the money to hire new employees 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.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $537,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Microlending as a Small Business Funding Source

SBA 7A Lenders in Oklahoma City, Oklahoma

Browse All Business Loan Sources for Oklahoma