Raising Money for Commercial and Industrial Machinery and Equipment Rental and Leasing

Looking for business loans for commercial and industrial machinery and equipment rental and leasing? The SBA may be the answer. This $146,700 commercial and industrial machinery and equipment rental and leasing loan was issued by an Oklahoma bank.

Getting a small business loan in Duncan, Oklahoma was important for this small business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Arvest Bank, operating out of Duncan, Oklahoma. Here are the details on this Oklahoma small business loan.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL AND INDUSTRIAL MACHINERY AND EQUIPMENT RENTAL AND LEASING
DUNCAN, OK 73534

SBA Loan Lender

ARVEST BANK
729 W MAIN ST
DUNCAN, OK 73533

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

532490 - Commercial and Industrial Machinery and Equipment Rental and Leasing

Loan Approval Date

1/5/2005

Loan Approval Gross Amount

$146,700

Loan Approval from the SBA

Of the total $146,700 loan amount, the SBA guaranteed $124,695.

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 promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Arvest Bank 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.

Related Links:

Understanding Dilution

SBA 7A Banks in Duncan, Oklahoma

Getting an SBA Loan in Oklahoma