SBA Loan from 1st Bank Oklahoma Helps Child Day Care Services Company

1st Bank Oklahoma is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Oklahoma entrepreneur who tapped into the power of SBA loans.

This growing company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with 1st Bank Oklahoma, out of Claremore, Oklahoma. The loan was granted and they received $170,500 to help grow their Claremore, Oklahoma business.

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
CLAREMORE, OK 74017

SBA Loan Lender

1ST BANK OKLAHOMA
1698 S LYNN RIGGS BLVD
CLAREMORE, OK 74017

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

624410 - Child Day Care Services

Loan Approval Date

12/12/2003

Loan Approval Gross Amount

$170,500

Loan Approval from the SBA

Of the total $170,500 loan amount, the SBA guaranteed $127,875.

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 10 employees. The loan application did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

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 $170,500 loan. Remember, fight for what you want, and it will be yours!

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:

Obtaining Funding - How to Borrow Money

Good Banks for Small Business in Claremore, Oklahoma

SBA Lenders in Oklahoma