Raising Money for General Merchandise Stores

With these business loans for general merchandise stores, the SBA guarantees the lender that the loan will be repaid. This general merchandise stores loan for $67,300 was given to an Oklahoma entrepreneur in 2004.

This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Rcb Bank, out of Claremore, Oklahoma. The loan was granted and they received $67,300 to help grow their Fort Gibson, Oklahoma business.

SBA Loan Borrower

COMPANY TYPE: GENERAL MERCHANDISE STORES
FORT GIBSON, OK 74133

SBA Loan Lender

RCB BANK
300 W PATTI PAGE BLVD
CLAREMORE, OK 74017

This lender issued this particular 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

452990 - General Merchandise Stores

Loan Approval Date

8/30/2004

Loan Approval Gross Amount

$67,300

Loan Approval from the SBA

Of the total $67,300 loan amount, the SBA guaranteed $57,205.

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 2 employees. The loan application did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

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

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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

Bank Credit Lines

Find an SBA Lender in Claremore, Oklahoma

Getting an SBA Loan in Oklahoma