Getting an SBA Loan for Individual and Family Services

With these commercial loans for individual and family services, the SBA guarantees the lender that the loan will be repaid. This individual and family services loan for $30,000 was given to an Oklahoma entrepreneur in 2004.

Getting a small business loan in Clinton, Oklahoma was important for this business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Oklahoma Bank & Trust, operating out of Clinton, Oklahoma. Here are the details on this Oklahoma small business loan.

SBA Loan Borrower

COMPANY TYPE: INDIVIDUAL AND FAMILY SERVICES
CLINTON, OK 73601

SBA Loan Lender

OKLAHOMA BANK & TRUST
600 GARY BLVD
CLINTON, OK 73601

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

624190 - Individual and Family Services

Loan Approval Date

11/17/2004

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $25,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the small business planned to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Oklahoma Bank & Trust are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Accountant's Role in Securing Financing

SBA Banks in Clinton, Oklahoma

Find an SBA Lender in Oklahoma