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April 29, 2024 |
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| Home > Small Business Lenders by State > Oklahoma Business Loan Sources > Oklahoma City, Business Loans > Midfirst Bank Oklahoma City Business Loans > Computer Related Services Loan | ||||
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Midfirst Bank
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Oklahoma City, Oklahoma Business Gets SBA-Guaranteed Funding from Midfirst BankMidfirst Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how an Oklahoma entrepreneur was able to get a loan to take a small business to the next level. This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Midfirst Bank, out of Oklahoma City, Oklahoma. The loan was granted and they received $1,311,500 to help grow their Oklahoma City, Oklahoma business. SBA Loan Borrower COMPANY TYPE: COMPUTER RELATED SERVICES SBA Loan Lender MIDFIRST BANK This lender issued this SBA loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 541519 - Computer Related Services Loan Approval Date 9/28/2004 Loan Approval Gross Amount $1,311,500 Loan Approval from the SBA Of the total $1,311,500 loan amount, the SBA guaranteed $983,625. 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 20 employees. The SBA loan application for the borrower did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide money to small business owners for working capital for other expenses. This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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: Find an SBA Lender in Oklahoma City, Oklahoma
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