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December 22, 2024 |
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| Home > Small Business Lenders by State > Oklahoma Business Loan Sources > Allen, Business Loans > Farmers St. Bank Allen Oklahom Allen Business Loans > Plastics Foam Products Loan | ||||
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Oklahoma Bank SBA Loans
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Allen, Oklahoma Bank Gives SBA Loan to Plastics Foam Products CompanyGet 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 firm 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: PLASTICS FOAM PRODUCTS SBA Loan Lender FARMERS ST. BANK ALLEN OKLAHOM This commercial 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. SIC Code 3086 - Plastics Foam Products NAICS Code 326140 - Polystyrene Foam Product Manufacturing Loan Approval Date 8/1/2003 Loan Approval Gross Amount $650,000 Loan Approval from the SBA Of the total $650,000 loan amount, the SBA guaranteed $487,500. 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 25 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. 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 Farmers St. Bank Allen Oklahom 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: Determining Proper Capital Structure for a Business Where to Get an SBA Loan in Allen, Oklahoma
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