Business Loan from First Bank & Trust Co. Given to Machine Shops Company

First Bank & Trust Co. and the SBA work together to get business loans for growing small businesses. Here's an example of how an Oklahoma entrepreneur was able to get a loan to take a small business to the next level.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Marlow, Oklahoma was able to borrow $216,900 from First Bank & Trust Co.. The SBA made the loan possible by guaranteeing $108,450 of this Oklahoma small business loan.

SBA Loan Borrower

COMPANY TYPE: MACHINE SHOPS
MARLOW, OK 73055

SBA Loan Lender

FIRST BANK & TRUST CO.
923 W MAIN ST
DUNCAN, OK 73533

The lender provided this SBA business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

332710 - Machine Shops

Loan Approval Date

11/6/2006

Loan Approval Gross Amount

$216,900

Loan Approval from the SBA

Of the total $216,900 loan amount, the SBA guaranteed $108,450.

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 only one employee. The SBA loan application for the borrower indicated that the loan would help create 1 new job.

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.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from First Bank & Trust Co. so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Business Cash Advances

Find an SBA Lender in Duncan, Oklahoma

Getting a Business Loan in Oklahoma