Duncan, Oklahoma Business Gets SBA-Guaranteed Funding from Legacy Bank

Legacy Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how an Oklahoma entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Duncan, Oklahoma was an essential business goal for this company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Legacy Bank, operating out of Duncan, Oklahoma. Here are the details on this Oklahoma small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMOUSINE SERVICE
DUNCAN, OK 73533

SBA Loan Lender

LEGACY BANK
2100 N HWY 81
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

485320 - Limousine Service

Loan Approval Date

11/26/2003

Loan Approval Gross Amount

$24,700

Loan Approval from the SBA

Of the total $24,700 loan amount, the SBA guaranteed $20,995.

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 only one employee. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you need money to start business 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.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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