Oklahoma Small Business Loan Issued to Caterers Company

Bank loans in Oklahoma are hard to find these days. We take a look at one Oklahoma bank loan, provided by an Oklahoma bank, that was approved by the SBA.

Getting a small business loan in Edmond, Oklahoma was a top priority for this loan applicant back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Union Bank. Here are the details on this Oklahoma small business loan.

SBA Loan Borrower

COMPANY TYPE: CATERERS
EDMOND, OK 73013

SBA Loan Lender

UNION BANK
4921 N MAY AVE
OKLAHOMA CITY, OK 73112

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722320 - Caterers

Loan Approval Date

7/28/2004

Loan Approval Gross Amount

$159,600

Loan Approval from the SBA

Of the total $159,600 loan amount, the SBA guaranteed $79,800.

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 only one employee. The loan application indicated that the loan would help generate 2 new jobs and retain 1 existing job.

Start the Process for Getting an SBA Loan Today!

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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