SBA Loan from 1st National Bank & Trust - Okmulge Helps General Merchandise Stores Company

1st National Bank & Trust - Okmulge has a track record as a leading provider of SBA loans. Find out how this Oklahoma entrepreneur received an SBA loan from them.

This growing company knew how to go about getting a business bank loan. Based in Morris, Oklahoma, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was 1st National Bank & Trust - Okmulge, based in Okmulgee, Oklahoma.

SBA Loan Borrower

COMPANY TYPE: GENERAL MERCHANDISE STORES
MORRIS, OK 74445

SBA Loan Lender

1ST NATIONAL BANK & TRUST - OKMULGE
610 E 8TH ST
OKMULGEE, OK 74447

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

452990 - General Merchandise Stores

Loan Approval Date

10/20/2005

Loan Approval Gross Amount

$62,800

Loan Approval from the SBA

Of the total $62,800 loan amount, the SBA guaranteed $31,400.

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 4 employees. This SBA loan request indicated that the loan would help retain 4 existing jobs.

Next Steps for Getting an SBA Loan

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

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like 1st National Bank & Trust - Okmulge that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Obtaining Funding - Getting Venture Capital

SBA Approved Banks in Okmulgee, Oklahoma

Getting an SBA Loan in Oklahoma