Oklahoma Bank Loan Issued to Iron And Steel Pipe And Tube Manufacturing From Purchased Steel Company

OklahomaSBA loans are available to Oklahoma entrepreneurs through the SBA. In this case, an Oklahoma bank provides the loan.

By giving the right information to Mcclain Bank, this Purcell, Oklahoma business was able to get an SBA loan. To get this loan, the applying company 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: IRON AND STEEL PIPE AND TUBE MANUFACTURING FROM PURCHASED STEEL
PURCELL, OK 73080

SBA Loan Lender

MCCLAIN BANK
131 W MAIN ST
PURCELL, OK 73080

This lender issued this business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began in 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

331210 - Iron and Steel Pipe and Tube Manufacturing from Purchased Steel

Loan Approval Date

6/22/2005

Loan Approval Gross Amount

$40,760

Loan Approval from the SBA

Of the total $40,760 loan amount, the SBA guaranteed $34,646.

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 9 employees. The SBA loan documents did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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