Security First National Bank Gives Business Loan to Household Appliance Stores Company

OklahomaBusiness loans are available to Oklahoma business owners through the SBA. In this case, an Oklahoma bank provides the loan.

Getting a small business loan in Hugo, Oklahoma was a top priority for this SBA-financed company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Security First National Bank. Here are the details on this Oklahoma small business loan.

SBA Loan Borrower

COMPANY TYPE: HOUSEHOLD APPLIANCE STORES
HUGO, OK 74743

SBA Loan Lender

SECURITY FIRST NATIONAL BANK
100 S BROADWAY
HUGO, OK 74743

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

443111 - Household Appliance Stores

Loan Approval Date

7/7/2003

Loan Approval Gross Amount

$77,100

Loan Approval from the SBA

Of the total $77,100 loan amount, the SBA guaranteed $65,535.

More Information on This SBA Loan

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

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Security First National Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Obtaining Funding - How to Borrow Money

Small Business Banks in Hugo, Oklahoma

Getting an SBA Loan in Oklahoma