Business Loan from Bancfirst Given to Furniture Stores Company
An SBA loan from Bancfirst typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Anadarko, Oklahoma business owner got a $50,000 loan.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Anadarko, Oklahoma was able to borrow $50,000 from Bancfirst. The SBA made the loan possible by guaranteeing $42,500 of this Oklahoma small business loan.
SBA Loan Borrower
COMPANY TYPE: FURNITURE STORES
ANADARKO, OK 73005
SBA Loan Lender
BANCFIRST
101 N BROADWAY, STE 1050
OKLAHOMA CITY, OK 73102
SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
442110 - Furniture Stores
Loan Approval Date
10/24/2007
Loan Approval Gross Amount
$50,000
Loan Approval from the SBA
Of the total $50,000 loan amount, the SBA guaranteed $42,500.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had 4 employees. The SBA loan application for the borrower indicated that the loan would help retain 4 existing jobs.
Next Steps for Getting an SBA Loan
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 Bancfirst 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:
Understanding Dilution
SBA 7A Lenders in Oklahoma City, Oklahoma
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