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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 > Grocery And Related Products Merchant Wholesalers Loan | ||||
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What Does It Take to Get a Business Loan in Shawnee, Oklahoma?
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How to Get a Loan for Grocery and Related Products Merchant WholesalersLooking for SBA loans for grocery and related products merchant wholesalers? An SBA loan may be just what you've been looking for. This $70,000 grocery and related products merchant wholesalers loan was issued by an Oklahoma bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Shawnee, Oklahoma was able to borrow $70,000 from Midfirst Bank. The SBA made the loan possible by guaranteeing $35,000 of this Oklahoma small business loan. SBA Loan Borrower COMPANY TYPE: GROCERY AND RELATED PRODUCTS MERCHANT WHOLESALERS SBA Loan Lender MIDFIRST BANK This lender processed this SBA small business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 424490 - Grocery and Related Products Merchant Wholesalers Loan Approval Date 2/20/2007 Loan Approval Gross Amount $70,000 Loan Approval from the SBA Of the total $70,000 loan amount, the SBA guaranteed $35,000. 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 only one employee. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 1 existing job. Next Steps for Getting an SBA Loan Don't apply for a loan directly with the SBA. You need to 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. 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 Midfirst 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: Obtaining Funding From a Venture Capitalist Best Banks in Oklahoma City, Oklahoma Browse All Business Loan Sources for Oklahoma
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