Norman, Oklahoma Entrepreneur Gets a Small Business Loan

Would an Oklahoma SBA loan help your business get to the next level? If so, you may want to talk with this Oklahoma bank, which offers SBA loans to Oklahoma entrepreneurs.

Getting a small business loan in Norman, Oklahoma was a top priority for this particular business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from First Bank & Trust Co.. Here are the details on this Oklahoma small business loan.

SBA Loan Borrower

COMPANY TYPE: PHOTOGRAPHY STUDIOS, PORTRAIT
NORMAN, OK 73069

SBA Loan Lender

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

This lender processed this SBA business loan 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

541921 - Photography Studios, Portrait

Loan Approval Date

3/7/2007

Loan Approval Gross Amount

$51,100

Loan Approval from the SBA

Of the total $51,100 loan amount, the SBA guaranteed $25,550.

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 only one employee. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 1 existing job.

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

If you are wondering how to raise money for a business in Norman OK, you ought to talk with a local Norman SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Norman businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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.

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