Entrepreneur Works With Altus, Oklahoma Bank to Get an SBA Loan

An Altus, Oklahoma business loan can be yours. Learn how one firm got a $13,200 business loan from this Oklahoma bank.

This loan to a local firm is a good example of an SBA loan. Nbanc made the loan and the SBA guaranteed a portion of the loan. Many other Oklahoma entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

COMPANY TYPE: IRRIGATION SYSTEMS
INDIAHOME, OK 73552

SBA Loan Lender

NBANC
123 W COMMERCE
ALTUS, OK 73521

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.

SIC Code

4971 - Irrigation Systems

NAICS Code

221310 - Water Supply and Irrigation Systems

Loan Approval Date

6/16/2000

Loan Approval Gross Amount

$13,200

Loan Approval from the SBA

Of the total $13,200 loan amount, the SBA guaranteed $10,560.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees.

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

Many small businesses receive loans backed by the U.S. Small Business Administration.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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