Lawton, Oklahoma Bank Lends Money to Coin-Operated Laundries And Drycleaners Company in Duncan, Oklahoma

Want to talk with a Lawton, Oklahoma bank about an SBA loan? Here's one Oklahoma business loan, issued by a Lawton bank, that was approved by the SBA.

Applying for an SBA loan with City National Bank & Trust - Lawton worked out well for our friends at one local firm in Duncan, Oklahoma. They got an SBA loan for $67,500. Awesome!

SBA Loan Borrower

COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANERS
DUNCAN, OK 73533

SBA Loan Lender

CITY NATIONAL BANK & TRUST - LAWTON
5TH AND D AVE
LAWTON, OK 73502

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812310 - Coin-Operated Laundries and Drycleaners

Loan Approval Date

3/5/2002

Loan Approval Gross Amount

$67,500

Loan Approval from the SBA

Of the total $67,500 loan amount, the SBA guaranteed $57,375.

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 3 employees. The SBA loan application for the borrower did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like City National Bank & Trust - Lawton that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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