Edmond, Oklahoma Business Gets SBA-Guaranteed Funding from Citizens Bancshares, Inc.

Citizens Bancshares, Inc. has a track record as a leading provider of SBA loans. Find out how this Oklahoma entrepreneur received an SBA loan from them.

Getting a small business loan in Edmond, Oklahoma was an essential business goal for this firm back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Citizens Bancshares, Inc., operating out of Edmond, Oklahoma. Here are the details on this Oklahoma small business loan.

SBA Loan Borrower

COMPANY TYPE: CONCRETE WORK
EDMOND, OK 73083

SBA Loan Lender

CITIZENS BANCSHARES, INC.
ONE E FIRST ST
EDMOND, OK 73034

This lender issued this business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1771 - Concrete Work

NAICS Code

235710 - Concrete Contractors

Loan Approval Date

10/10/2001

Loan Approval Gross Amount

$345,000

Loan Approval from the SBA

Of the total $345,000 loan amount, the SBA guaranteed $258,750.

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 3 employees. The loan application did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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 $345,000 loan. Remember, you control your own destiny.

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:

How Much Venture Capital Is There?

Good Banks for Small Business in Edmond, Oklahoma

SBA Lenders in Oklahoma