Growing Company Gets an Oklahoma Small Business Loan

OklahomaBank loans are available to Oklahoma firms through the SBA. In this case, an Oklahoma bank provides the loan.

Getting a small business loan in Broken Arrow, Oklahoma was a top priority for this loan applicant back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Arkansas Valley State Bank. Here are the details on this Oklahoma small business loan.

SBA Loan Borrower

COMPANY TYPE: PERSONAL AND HOUSEHOLD GOODS REPAIR AND MAINTENANCE
BROKEN ARROW, OK 74014

SBA Loan Lender

ARKANSAS VALLEY STATE BANK
302 S MAIN
BROKEN ARROW, OK 74012

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811490 - Personal and Household Goods Repair and Maintenance

Loan Approval Date

7/6/2006

Loan Approval Gross Amount

$171,600

Loan Approval from the SBA

Of the total $171,600 loan amount, the SBA guaranteed $128,700.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 only one employee. The SBA loan documents indicated that the funding would help generate 3 new jobs.

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

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new 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 Arkansas Valley State Bank 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.

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