Entrepreneur Works With Oklahoma City, Oklahoma Bank to Get an SBA Loan

Want to talk with an Oklahoma City, Oklahoma bank about a business loan? Here's one Oklahoma business loan, issued by an Oklahoma City bank, that was approved by the SBA.

Applying for an SBA loan with International Bank Of Commerce worked out well for our friends at one local business in Oklahoma City, Oklahoma. The business was able to get an SBA loan for $87,300. Way to go!

SBA Loan Borrower

COMPANY TYPE: LIMOUSINE SERVICE
OKLAHOMA CITY, OK 73112

SBA Loan Lender

INTERNATIONAL BANK OF COMMERCE
3601 NW 63RD ST
OKLAHOMA CITY, OK 73116

The lender provided this loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

485320 - Limousine Service

Loan Approval Date

2/23/2005

Loan Approval Gross Amount

$87,300

Loan Approval from the SBA

Of the total $87,300 loan amount, the SBA guaranteed $43,650.

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 3 employees. This SBA loan request indicated that the loan would help generate 6 new jobs and retain 3 existing jobs.

Next Steps for Getting an SBA Loan

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $87,300 loan. Remember, anyone can do it... so why not you?

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:

The Art of Bootstrapping

Where to Get an SBA Loan in Oklahoma City, Oklahoma

SBA Oklahoma Lenders