Where to Get Capital for Commercial and Service Industry Machinery Manufacturing

Looking for small business loans for commercial and service industry machinery manufacturing? Talk to a banker who works with the SBA. This $6,000 commercial and service industry machinery manufacturing loan was issued by an Oklahoma bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Mcloud, Oklahoma was able to borrow $6,000 from International Bank Of Commerce. The SBA made the loan possible by guaranteeing $3,000 of this Oklahoma small business loan.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL AND SERVICE INDUSTRY MACHINERY MANUFACTURING
MCLOUD, OK 74851

SBA Loan Lender

INTERNATIONAL BANK OF COMMERCE
3601 NW 63RD ST
OKLAHOMA CITY, OK 73116

This lender processed this debt financing under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

333319 - Commercial and Service Industry Machinery Manufacturing

Loan Approval Date

5/18/2005

Loan Approval Gross Amount

$6,000

Loan Approval from the SBA

Of the total $6,000 loan amount, the SBA guaranteed $3,000.

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 only one employee. The loan application indicated that the loan would help retain 1 existing job.

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

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into International Bank Of Commerce and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Debt Financing

Small Bank Loans in Oklahoma City, Oklahoma

Oklahoma SBA Banks