Bank Loans for Motorcycle, Bicycle, and Parts Manufacturing

Looking for bank loans for motorcycle, bicycle, and parts manufacturing? The SBA may be the answer. This $500,000 motorcycle, bicycle, and parts manufacturing loan was issued by an Oklahoma bank.

This small firm received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Midfirst Bank, out of Oklahoma City, Oklahoma. The loan was granted and they received $500,000 to help grow their Oklahoma City, Oklahoma business.

SBA Loan Borrower

COMPANY TYPE: MOTORCYCLE, BICYCLE, AND PARTS MANUFACTURING
OKLAHOMA CITY, OK 73118

SBA Loan Lender

MIDFIRST BANK
501 NW GRAND BLVD
OKLAHOMA CITY, OK 73118

This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

336991 - Motorcycle, Bicycle, and Parts Manufacturing

Loan Approval Date

1/4/2007

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $375,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 30 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Midfirst Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Midfirst Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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