Getting an SBA Loan for Boat Building

Looking for business loans for boat building? The SBA may be the answer. This $68,500 boat building loan was issued by an Oklahoma bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Jay, Oklahoma was able to borrow $68,500 from Arvest Bank. The SBA made the loan possible by guaranteeing $58,225 of this Oklahoma small business loan.

SBA Loan Borrower

COMPANY TYPE: BOAT BUILDING
JAY, OK 74346

SBA Loan Lender

ARVEST BANK
338 S 5TH ST
JAY, OK 74346

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

336612 - Boat Building

Loan Approval Date

8/19/2003

Loan Approval Gross Amount

$68,500

Loan Approval from the SBA

Of the total $68,500 loan amount, the SBA guaranteed $58,225.

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 only one employee. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Realistic Debt Financing Options

SBA Banks in Jay, Oklahoma

SBA Participating Banks in Oklahoma