Allen, Oklahoma Bank Lends Money to Dried And Dehydrated Food Manufacturing Company in Allen, Oklahoma

Get to know Allen, Oklahoma banks that specialize in SBA loans and know how to work with entrepreneurs. Farmers St. Bank Allen Oklahom is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Allen, Oklahoma starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from Farmers St. Bank Allen Oklahom. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: DRIED AND DEHYDRATED FOOD MANUFACTURING
ALLEN, OK 74825

SBA Loan Lender

FARMERS ST. BANK ALLEN OKLAHOM
101 E BROADWAY
ALLEN, OK 74825

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide commercial loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

311423 - Dried and Dehydrated Food Manufacturing

Loan Approval Date

10/16/2007

Loan Approval Gross Amount

$93,400

Loan Approval from the SBA

Of the total $93,400 loan amount, the SBA guaranteed $79,390.

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 14 employees. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 10 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Farmers St. Bank Allen Oklahom had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Farmers St. Bank Allen Oklahom 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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