Oklahoma City, Oklahoma Bank Lends Money to Laundry And Garment Services Company in Oklahoma City, Oklahoma

Get business loans from an Oklahoma City, 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.

Midfirst Bank is a Oklahoma City, 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: LAUNDRY AND GARMENT SERVICES
OKLAHOMA CITY, OK 73116

SBA Loan Lender

MIDFIRST BANK
501 NW GRAND BLVD
OKLAHOMA CITY, OK 73118

This lender issued this business loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7219 - Laundry and Garment Services

NAICS Code

812320 - Drycleaning and Laundry Services

Loan Approval Date

10/15/2001

Loan Approval Gross Amount

$515,000

Loan Approval from the SBA

Of the total $515,000 loan amount, the SBA guaranteed $386,250.

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 79 employees. This SBA loan request did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Midfirst Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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