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

Thinking about meeting with a Mcalester, Oklahoma bank about an SBA loan? Here's one Oklahoma business loan, issued by a Mcalester bank, that was approved by the SBA.

Applying for an SBA loan with The Bank, National Association worked out well for our friends at one local firm in Krebs, Oklahoma. They got an SBA loan for $87,054. Nice!

SBA Loan Borrower

COMPANY TYPE: CONVENIENCE STORES
KREBS, OK 74554

SBA Loan Lender

THE BANK, NATIONAL ASSOCIATION
2ND & CARL ALBERT PKWY
MCALESTER, OK 74501

This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445120 - Convenience Stores

Loan Approval Date

1/25/2005

Loan Approval Gross Amount

$87,054

Loan Approval from the SBA

Of the total $87,054 loan amount, the SBA guaranteed $65,291.

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 8 employees. The SBA loan documents did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

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Small Business Banks in Mcalester, Oklahoma

SBA Lenders in Oklahoma