Elk City, Oklahoma Bank Lends Money to Pump And Pumping Equipment Manufacturing Company in Elk City, Oklahoma

Want to talk with an Elk City, Oklahoma bank about a 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. The business was able to get an SBA loan for $350,000. Way to go!

SBA Loan Borrower

COMPANY TYPE: PUMP AND PUMPING EQUIPMENT MANUFACTURING
ELK CITY, OK 73644

SBA Loan Lender

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

This lender issued this SBA bank loan under the SBA's 7(a) guaranteed loan 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

333911 - Pump and Pumping Equipment Manufacturing

Loan Approval Date

9/14/2007

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $262,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 4 existing jobs.

Getting an SBA Loan For Your 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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Great Plains National Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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