Elk City, Oklahoma Bank Gives SBA Loan to Car Washes Company

Want to talk with an Elk City, Oklahoma bank about a small business loan? Here's one Oklahoma business loan, issued by an Elk City bank, that was approved by the SBA.

Applying for an SBA loan with Great Plains National Bank worked out well for our friends at one local firm in Elk City, Oklahoma. They received an SBA loan for $531,000. Sweet!

SBA Loan Borrower

COMPANY TYPE: CAR WASHES
ELK CITY, OK 73644

SBA Loan Lender

GREAT PLAINS NATIONAL BANK
2017 W THIRD
ELK CITY, OK 73644

This lender issued this loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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.

NAICS Code

811192 - Car Washes

Loan Approval Date

8/16/2004

Loan Approval Gross Amount

$531,000

Loan Approval from the SBA

Of the total $531,000 loan amount, the SBA guaranteed $398,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The loan application did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Great Plains National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Great Plains National Bank 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:

Strategic Investors

SBA 7A Banks for Elk City, Oklahoma Loans

Getting an SBA Loan in Oklahoma