1st National Bank & Trust - Broken Gives Business Loan to Janitorial Services Company

Small business loans in Oklahoma are are few and far betweeen these days. We take a look at one Oklahoma small business loan, provided by an Oklahoma bank, that was approved by the SBA.

By giving the right information to 1st National Bank & Trust - Broken, this Broken Arrow, Oklahoma business was able to get an SBA loan. To get this loan, the loan applicant gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: JANITORIAL SERVICES
BROKEN ARROW, OK 74012

SBA Loan Lender

1ST NATIONAL BANK & TRUST - BROKEN
121 S MAIN
BROKEN ARROW, OK 74012

This lender issued this particular SBA small business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561720 - Janitorial Services

Loan Approval Date

1/17/2003

Loan Approval Gross Amount

$43,500

Loan Approval from the SBA

Of the total $43,500 loan amount, the SBA guaranteed $36,975.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

We can help you find the best banks for small businesses in Broken Arrow or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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.

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