SBA Loan from 1st National Bank & Trust - Okmulge Helps Ornamental Floriculture Nursery Products Company

An SBA loan from 1st National Bank & Trust - Okmulge typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Beggs, Oklahoma business owner got a $83,000 loan.

Getting a small business loan in Beggs, Oklahoma was an essential business goal for this company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from 1st National Bank & Trust - Okmulge, operating out of Okmulgee, Oklahoma. Here are the details on this Oklahoma small business loan.

SBA Loan Borrower

COMPANY TYPE: ORNAMENTAL FLORICULTURE NURSERY PRODUCTS
BEGGS, OK 74421

SBA Loan Lender

1ST NATIONAL BANK & TRUST - OKMULGE
610 E 8TH ST
OKMULGEE, OK 74447

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 7A business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

0181 - Ornamental Floriculture Nursery Products

NAICS Code

111421 - Nursery and Tree Production

Loan Approval Date

5/1/2000

Loan Approval Gross Amount

$83,000

Loan Approval from the SBA

Of the total $83,000 loan amount, the SBA guaranteed $66,400.

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 9 employees. The SBA loan documents did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from 1st National Bank & Trust - Okmulge so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Bank Credit Lines

SBA 7A Lenders in Okmulgee, Oklahoma

Getting an SBA Loan in Oklahoma