Oklahoma SBA Loan Issued to Commercial And Industrial Machinery And Equipment Rental And Leasing Company

Searching for an Oklahoma SBA loan? This Oklahoma entrepreneur got an SBA loan, provided by an Oklahoma bank that works with the SBA to help small business owners.

Getting a small business loan in Okmulgee, Oklahoma was a top priority for this particular business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from 1st National Bank & Trust - Okmulge. Here are the details on this Oklahoma small business loan.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL AND INDUSTRIAL MACHINERY AND EQUIPMENT RENTAL AND LEASING
OKMULGEE, OK 74447

SBA Loan Lender

1ST NATIONAL BANK & TRUST - OKMULGE
610 E 8TH ST
OKMULGEE, OK 74447

This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

532490 - Commercial and Industrial Machinery and Equipment Rental and Leasing

Loan Approval Date

3/13/2003

Loan Approval Gross Amount

$148,700

Loan Approval from the SBA

Of the total $148,700 loan amount, the SBA guaranteed $126,395.

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 2 employees. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

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

Remember, you 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.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like 1st National Bank & Trust - Okmulge are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for 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:

Obtaining Funding - Friends and Family

Banks in Okmulgee, Oklahoma

SBA Lenders in Oklahoma