Oklahoma City, Oklahoma Entrepreneur Gets a Bank Loan

OklahomaBank loans are available to Oklahoma firms 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 company, made back in 2005. Banks like Bank2 may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
OKLAHOMA CITY, OK 73112

SBA Loan Lender

BANK2
909 S MERIDIAN
OKLAHOMA CITY, OK 73108

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

722110 - Full-Service Restaurants

Loan Approval Date

11/18/2005

Loan Approval Gross Amount

$282,000

Loan Approval from the SBA

Of the total $282,000 loan amount, the SBA guaranteed $141,000.

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 33 employees. The SBA loan documents indicated that the loan would help generate 10 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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bank2 had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bank2 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:

Realistic Debt Financing Options

Small Business Banks in Oklahoma City, Oklahoma

Find an SBA Lender in Oklahoma