Wayne, Oklahoma Entrepreneur Gets a Small Business Loan

Bank loans in Oklahoma are are few and far betweeen these days. We take a look at one Oklahoma bank loan, provided by an Oklahoma bank, that was approved by the SBA.

Getting a small business loan in Wayne, Oklahoma was a top priority for this loan applicant back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Mcclain Bank. Here are the details on this Oklahoma small business loan.

SBA Loan Borrower

COMPANY TYPE: HIGHWAY AND STREET CONSTRUCTION
WAYNE, OK 73095

SBA Loan Lender

MCCLAIN BANK
131 W MAIN ST
PURCELL, OK 73080

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

234110 - Highway and Street Construction

Loan Approval Date

3/11/2002

Loan Approval Gross Amount

$87,500

Loan Approval from the SBA

Of the total $87,500 loan amount, the SBA guaranteed $74,375.

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 4 employees. The SBA loan application for the borrower did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a business in Wayne OK, you ought to talk with a local Wayne SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Wayne businesses.

This company got an SBA loan. You can too! Maybe you want money for start up 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:

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Find an SBA Lender in Purcell, Oklahoma

Getting an SBA Loan in Oklahoma