Oklahoma City, Oklahoma Entrepreneur Gets a Bank Loan

OklahomaSBA loans are available to Oklahoma entrepreneurs through the SBA. In this case, an Oklahoma bank provides the loan.

You can learn something about getting a small business loan in Oklahoma City, Oklahoma by studying this loan to a local business, made back in 2004. Banks like Weokie Cu may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL AND SERVICE INDUSTRY MACHINERY MANUFACTURING
OKLAHOMA CITY, OK 73107

SBA Loan Lender

WEOKIE CU
8100 W RENO
OKLAHOMA CITY, OK 73127

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

333319 - Commercial and Service Industry Machinery Manufacturing

Loan Approval Date

8/17/2004

Loan Approval Gross Amount

$102,900

Loan Approval from the SBA

Of the total $102,900 loan amount, the SBA guaranteed $87,465.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 small business planned to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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

Related Links:

Getting a Small Business Loan

Banks in Oklahoma City, Oklahoma

Find an SBA Lender in Oklahoma