Industrial Machinery and Equipment Wholesalers Business Loans
Looking for business loans for industrial machinery and equipment wholesalers? Talk to a banker who works with the SBA. This $500,000 industrial machinery and equipment wholesalers loan was issued by an Oklahoma bank.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Broken Arrow, Oklahoma was able to borrow $500,000 from The F&m Bank & Trust Company. The SBA made the loan possible by guaranteeing $450,000 of this Oklahoma small business loan.
SBA Loan Borrower
COMPANY TYPE: INDUSTRIAL MACHINERY AND EQUIPMENT
BROKEN ARROW, OK 74012
SBA Loan Lender
THE F&M BANK & TRUST COMPANY
1330 S HARVARD AVE
TULSA, OK 74112
This lender issued this bank loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
5084 - Industrial Machinery and Equipment
NAICS Code
421830 - Industrial Machinery and Equipment Wholesalers
Loan Approval Date
3/1/2001
Loan Approval Gross Amount
$500,000
Loan Approval from the SBA
Of the total $500,000 loan amount, the SBA guaranteed $450,000.
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 3 employees. The loan application did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
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.
Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $500,000 loan. Remember, anyone can do it... so why not you?
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:
Business Line of Credit
SBA 7A Lenders in Tulsa, Oklahoma
Getting a Business Loan in Oklahoma