Okmulgee, Oklahoma Business Gets SBA-Guaranteed Funding from Citizens Security Bank & Trust

Citizens Security Bank & Trust is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Oklahoma entrepreneur who tapped into the power of SBA loans.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Okmulgee, Oklahoma was able to borrow $20,000 from Citizens Security Bank & Trust. The SBA made the loan possible by guaranteeing $17,000 of this Oklahoma small business loan.

SBA Loan Borrower

COMPANY TYPE: RETAIL BAKERIES
OKMULGEE, OK 74447

SBA Loan Lender

CITIZENS SECURITY BANK & TRUST
101 E 6TH ST
OKMULGEE, OK 74447

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

311811 - Retail Bakeries

Loan Approval Date

3/17/2005

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $17,000.

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 only one employee. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees.

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

If you are wondering how to raise money for a business in Okmulgee OK, you ought to talk with a local Okmulgee SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Okmulgee businesses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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Oklahoma SBA 7A Lenders