Edmond, Oklahoma Lender Lends Money to General Automotive Repair Company

Find Edmond, Oklahoma banks that specialize in small business loans and know how to work with entrepreneurs. First Commercial Bank is one such bank, as evidenced by this SBA loan to one business.

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 business received funding from First Commercial Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
OKLAHOMA CITY, OK 73108

SBA Loan Lender

FIRST COMMERCIAL BANK
1601 S KELLY
EDMOND, OK 73013

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

2/2/2004

Loan Approval Gross Amount

$99,500

Loan Approval from the SBA

Of the total $99,500 loan amount, the SBA guaranteed $84,575.

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 2 employees. The SBA loan application for the borrower did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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