Business Loan from Midfirst Bank Given to Folding Paperboard Box Manufacturing Company

Midfirst Bank 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 2005. They applied for an SBA loan with Midfirst Bank, out of Oklahoma City, Oklahoma. The loan was granted and they received $150,000 to help grow their Oklahoma City, Oklahoma business.

SBA Loan Borrower

COMPANY TYPE: FOLDING PAPERBOARD BOX MANUFACTURING
OKLAHOMA CITY, OK 73119

SBA Loan Lender

MIDFIRST BANK
501 NW GRAND BLVD
OKLAHOMA CITY, OK 73118

This SBA business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

322212 - Folding Paperboard Box Manufacturing

Loan Approval Date

3/28/2005

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $75,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 18 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 18 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

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 Midfirst 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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