Oklahoma City, Oklahoma Bank Gives SBA Loan to Gasoline Stations With Convenience Stores Company

Get to know Oklahoma City, Oklahoma banks that specialize in small business loans and know how to work with entrepreneurs. Midfirst Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Oklahoma City, Oklahoma starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from Midfirst Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: GASOLINE STATIONS WITH CONVENIENCE STORES
OKLAHOMA CITY, OK 73102

SBA Loan Lender

MIDFIRST BANK
501 NW GRAND BLVD
OKLAHOMA CITY, OK 73118

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

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

8/5/2004

Loan Approval Gross Amount

$1,080,000

Loan Approval from the SBA

Of the total $1,080,000 loan amount, the SBA guaranteed $810,000.

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 20 employees. This SBA loan request did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees.

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

If you are working on finding money to start a business in Oklahoma City OK, you ought to talk with a local Oklahoma City SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Oklahoma City businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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