SBA Loan from The Citizens Bank Of Edmond Helps Photography Studios, Portrait Company

An SBA loan from The Citizens Bank Of Edmond typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Edmond, Oklahoma business owner got a $20,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Edmond, Oklahoma was able to borrow $20,000 from The Citizens Bank Of Edmond. The SBA made the loan possible by guaranteeing $10,000 of this Oklahoma small business loan.

SBA Loan Borrower

COMPANY TYPE: PHOTOGRAPHY STUDIOS, PORTRAIT
EDMOND, OK 73034

SBA Loan Lender

THE CITIZENS BANK OF EDMOND
ONE E FIRST ST
EDMOND, OK 73034

This lender processed this commercial loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

541921 - Photography Studios, Portrait

Loan Approval Date

3/10/2004

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $10,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

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

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. The Citizens Bank Of Edmond had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, The Citizens Bank Of Edmond made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Accountant's Role in Securing Financing

SBA Participating Banks in Edmond, Oklahoma

Browse All Business Loan Sources for Oklahoma