Entrepreneur Works With El Reno, Oklahoma Bank to Get an SBA Loan

Get to know El Reno, Oklahoma banks that specialize in SBA loans and know how to work with entrepreneurs. The Bank Of Union is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in El Reno, Oklahoma starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from The Bank Of Union. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: FARM SUPPLIES WHOLESALERS
EL RENO, OK 77036

SBA Loan Lender

THE BANK OF UNION
2000 S COUNTRY CLUB RD
EL RENO, OK 73036

This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

422910 - Farm Supplies Wholesalers

Loan Approval Date

10/15/2002

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $34,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 only one employee. This SBA loan request did not indicate that the small business planned to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

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 $40,000 loan. Remember, things become real when you believe you can achieve them!

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:

Business Incubators

SBA Approved Banks in El Reno, Oklahoma

Where to Get an SBA Loan Oklahoma