Entrepreneur Works With Kingfisher, Oklahoma Bank to Get an SBA Loan

Thinking about meeting with a Kingfisher, Oklahoma bank about an SBA loan? Here's one Oklahoma business loan, issued by a Kingfisher bank, that was approved by the SBA.

Applying for an SBA loan with First Capital Bank worked out well for our friends at one local firm in Okarche, Oklahoma. The business was able to get an SBA loan for $60,000. Awesome!

SBA Loan Borrower

COMPANY TYPE: TIRE DEALERS
OKARCHE, OK 73762

SBA Loan Lender

FIRST CAPITAL BANK
601 S MAIN
KINGFISHER, OK 73750

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441320 - Tire Dealers

Loan Approval Date

8/7/2002

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $51,000.

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 SBA loan documents did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First Capital Bank 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.

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Banks in Kingfisher, Oklahoma

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