Loans for Textile Product Mills

With these loans for textile product mills, the SBA guarantees the lender that the loan will be repaid. This textile product mills loan for $5,000 was given to an Oklahoma entrepreneur in 2001.

This small firm received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Farmers Exchange Bank, out of Cherokee, Oklahoma. The loan was granted and they received $5,000 to help grow their Cherokee, Oklahoma business.

SBA Loan Borrower

COMPANY TYPE: PLEATING, DECORATIVE AND NOVELTY STITCHING
CHEROKEE, OK 73728

SBA Loan Lender

FARMERS EXCHANGE BANK
419 S GRAND
CHEROKEE, OK 73728

This SBA bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2395 - Pleating, Decorative and Novelty Stitching

NAICS Code

314999 - Textile Product Mills

Loan Approval Date

3/6/2001

Loan Approval Gross Amount

$5,000

Loan Approval from the SBA

Of the total $5,000 loan amount, the SBA guaranteed $4,250.

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 SBA loan application for the borrower did not indicate that the small business planned 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?

If you are wondering how to find money to start a business or need money for an existing business, an SBA loan can be a great source of funding.

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 Farmers Exchange 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.

Related Links:

Advice on Getting a Small Business Loan

SBA 7A Banks for Cherokee, Oklahoma Loans

Oklahoma SBA Banks