Firm Gets an Oklahoma Business Loan

Small business loans in Oklahoma are tough to come by these days. We take a look at one Oklahoma small business loan, provided by an Oklahoma bank, that was approved by the SBA.

By giving the right information to Midfirst Bank, this Oklahoma City, Oklahoma business was able to get an SBA loan. To get this loan, the loan applicant gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: PHOTOGRAPHIC STUDIOS, PORTRAIT
OKLAHOMA CITY, OK 73106

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 loan for a small business was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7221 - Photographic Studios, Portrait

NAICS Code

541921 - Photography Studios, Portrait

Loan Approval Date

2/12/2003

Loan Approval Gross Amount

$410,000

Loan Approval from the SBA

Of the total $410,000 loan amount, the SBA guaranteed $307,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 25 employees. This SBA loan request did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

We've showcased information on this loan to let you know that businesses like yours 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.

Related Links:

Understanding Dilution

SBA 7A Banks in Oklahoma City, Oklahoma

Getting an SBA Loan in Oklahoma