How to Get a Loan for Basic Organic Chemical Manufacturing

With these commercial loans for basic organic chemical manufacturing, the SBA guarantees the lender that the loan will be repaid. This basic organic chemical manufacturing loan for $275,000 was given to an Oklahoma entrepreneur in 2007.

Getting a small business loan in Broken Arrow, Oklahoma was important for this small business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Spiritbank, operating out of Tulsa, Oklahoma. Here are the details on this Oklahoma small business loan.

SBA Loan Borrower

COMPANY TYPE: BASIC ORGANIC CHEMICAL MANUFACTURING
BROKEN ARROW, OK 74012

SBA Loan Lender

SPIRITBANK
1800 S BALTIMORE
TULSA, OK 74119

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

325199 - Basic Organic Chemical Manufacturing

Loan Approval Date

5/10/2007

Loan Approval Gross Amount

$275,000

Loan Approval from the SBA

Of the total $275,000 loan amount, the SBA guaranteed $206,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

If you need money to start a business or need money to grow a business, an SBA loan can be a great funding source

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 Spiritbank 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:

Obtaining Funding - How to Borrow Money

Best Tulsa, Oklahoma Banks for Small Business

Getting an SBA Loan in Oklahoma