Where to Get Capital for Machine Shops

Looking for small business loans for machine shops? Talk to a banker who works with the SBA. This $149,000 machine shops loan was issued by an Oklahoma bank.

This company knew how to go about getting a business bank loan. Based in Comanche, Oklahoma, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was First Bank & Trust Co., based in Duncan, Oklahoma.

SBA Loan Borrower

COMPANY TYPE: MACHINE SHOPS
COMANCHE, OK 73529

SBA Loan Lender

FIRST BANK & TRUST CO.
1521 W PLATO RD
DUNCAN, OK 73533

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

332710 - Machine Shops

Loan Approval Date

2/18/2003

Loan Approval Gross Amount

$149,000

Loan Approval from the SBA

Of the total $149,000 loan amount, the SBA guaranteed $126,650.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you need money to start business in Comanche OK, you ought to talk with a local Comanche SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Comanche businesses.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from First Bank & Trust Co. so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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