Get an SBA Loan for General Merchandise Stores

With these bank loans for general merchandise stores, the SBA guarantees the lender that the loan will be repaid. This general merchandise stores loan for $146,600 was given to an Oklahoma entrepreneur in 2000.

This company knew how to go about getting a business bank loan. Based in Duncan, Oklahoma, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was 1st National Bank & Trust Chic, based in Chickasha, Oklahoma.

SBA Loan Borrower

COMPANY TYPE: VARIETY STORES
DUNCAN, OK 73533

SBA Loan Lender

1ST NATIONAL BANK & TRUST CHIC
302 CHICKASHA AVE
CHICKASHA, OK 73023

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.

SIC Code

5331 - Variety Stores

NAICS Code

452990 - General Merchandise Stores

Loan Approval Date

1/26/2000

Loan Approval Gross Amount

$146,600

Loan Approval from the SBA

Of the total $146,600 loan amount, the SBA guaranteed $109,950.

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 14 employees. The loan application did not indicate that the business planned to use the money to add employees or retain any existing employees.

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

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $146,600 loan. Remember, feel the fear, and do it anyway.

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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