Medford, Oklahoma Business Gets SBA-Guaranteed Funding from The Bank Of Kremlin

An SBA loan from The Bank Of Kremlin typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Medford, Oklahoma business owner got a $752,000 loan.

This growing company knew how to go about getting a business bank loan. Based in Medford, Oklahoma, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was The Bank Of Kremlin, based in Kremlin, Oklahoma.

SBA Loan Borrower

COMPANY TYPE: FARM SUPPLIES
MEDFORD, OK 73759

SBA Loan Lender

THE BANK OF KREMLIN
102 SIXTH ST
KREMLIN, OK 73753

This SBA 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.

SIC Code

5191 - Farm Supplies

NAICS Code

424910 - Farm Supplies Merchant Wholesalers

Loan Approval Date

5/29/2003

Loan Approval Gross Amount

$752,000

Loan Approval from the SBA

Of the total $752,000 loan amount, the SBA guaranteed $564,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 6 employees. The loan application did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. The Bank Of Kremlin had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, The Bank Of Kremlin made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Angel Investors

SBA 7A Lenders in Kremlin, Oklahoma

SBA Lenders in Oklahoma