Bank - Oklahoma SBA Loan to Drilling Oil And Gas Wells Company

Bank - Oklahoma and the SBA work together to get business loans for growing small businesses. Here's an example of how an Oklahoma entrepreneur was able to get a loan to take a small business to the next level.

This business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Bank - Oklahoma, out of Oklahoma City, Oklahoma. The loan was granted and they received $130,000 to help grow their Oklahoma City, Oklahoma business.

SBA Loan Borrower

COMPANY TYPE: DRILLING OIL AND GAS WELLS
OKLAHOMA CITY, OK 73129

SBA Loan Lender

BANK - OKLAHOMA
7701 S WESTERN
OKLAHOMA CITY, OK 73139

This lender issued this particular loan for a small business under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

213111 - Drilling Oil and Gas Wells

Loan Approval Date

6/26/2003

Loan Approval Gross Amount

$130,000

Loan Approval from the SBA

Of the total $130,000 loan amount, the SBA guaranteed $110,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 24 employees. The SBA loan application for the borrower did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

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

Determining Proper Capital Structure for a Business

SBA Banks in Oklahoma City, Oklahoma

Browse All Business Loan Sources for Oklahoma