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

Get business loans from an Edmond, Oklahoma bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too.

First Commercial Bank is a Edmond, Oklahoma small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to an Oklahoma company.

SBA Loan Borrower

COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES
OKLAHOMA CITY, OK 73116

SBA Loan Lender

FIRST COMMERCIAL BANK
1601 S KELLY
EDMOND, OK 73013

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812320 - Drycleaning and Laundry Services

Loan Approval Date

9/14/2005

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

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 43 employees. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 43 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into First Commercial Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

The Friends and Family Network

Best Edmond, Oklahoma Banks for Small Business

Oklahoma SBA 7A Lenders