Small Business Loans for Video Tape and Disc Rental

With these small business loans for video tape and disc rental, the SBA guarantees the lender that the loan will be repaid. This video tape and disc rental loan for $115,400 was given to an Oklahoma entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Catoosa, Oklahoma was able to borrow $115,400 from Bancfirst. The SBA made the loan possible by guaranteeing $98,090 of this Oklahoma small business loan.

SBA Loan Borrower

COMPANY TYPE: VIDEO TAPE AND DISC RENTAL
CATOOSA, OK 74015

SBA Loan Lender

BANCFIRST
101 N BROADWAY, STE 1050
OKLAHOMA CITY, OK 73102

When this loan was made, this bank participated in the SBA's Certified Lenders Program (CLP). This program was created to give expeditious service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

532230 - Video Tape and Disc Rental

Loan Approval Date

6/30/2004

Loan Approval Gross Amount

$115,400

Loan Approval from the SBA

Of the total $115,400 loan amount, the SBA guaranteed $98,090.

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 5 employees. This SBA loan request did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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