Borrowing Money for Third Party Administration of Insurance and Pension Funds

Looking for loans for third party administration of insurance and pension funds? An SBA loan may be just what you've been looking for. This $50,000 third party administration of insurance and pension funds loan was issued by an Oklahoma bank.

Getting a small business loan in Oklahoma, Oklahoma was important for this company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Kirkpatrick Bank, operating out of Edmond, Oklahoma. Here are the details on this Oklahoma small business loan.

SBA Loan Borrower

COMPANY TYPE: THIRD PARTY ADMINISTRATION OF INSURANCE AND PENSION FUNDS
OKLAHOMA, OK 73118

SBA Loan Lender

KIRKPATRICK BANK
15 E 15TH ST
EDMOND, OK 73013

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

524292 - Third Party Administration of Insurance and Pension Funds

Loan Approval Date

12/5/2002

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 11 employees. The loan application did not indicate that the small business planned to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Kirkpatrick Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Kirkpatrick Bank 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.

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