SBA Loan from First American Bank Helps Janitorial Services Company

An SBA loan from First American Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Moore, Oklahoma business owner got a $146,200 loan.

Getting a small business loan in Moore, Oklahoma was an essential business goal for this company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from First American Bank, operating out of Moore, Oklahoma. Here are the details on this Oklahoma small business loan.

SBA Loan Borrower

COMPANY TYPE: JANITORIAL SERVICES
MOORE, OK 73160

SBA Loan Lender

FIRST AMERICAN BANK
2101 S I-35 FRONTAGE RD
MOORE, OK 73160

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

561720 - Janitorial Services

Loan Approval Date

6/27/2003

Loan Approval Gross Amount

$146,200

Loan Approval from the SBA

Of the total $146,200 loan amount, the SBA guaranteed $124,270.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower did not indicate that the business promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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:

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Small Business Banks in Moore, Oklahoma

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