Borrowing Money for Commercial and Industrial Machinery and Equipment

Looking for loans for commercial and industrial machinery and equipment? Talk to a banker who works with the SBA. This $30,000 commercial and industrial machinery and equipment loan was issued by an Oklahoma bank.

Getting a small business loan in Owasso, Oklahoma was important for this company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from First Bank Of Owasso, operating out of Owasso, Oklahoma. Here are the details on this Oklahoma small business loan.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL AND INDUSTRIAL MACHINERY AND EQUIPMENT
OWASSO, OK 74055

SBA Loan Lender

FIRST BANK OF OWASSO
102 W 2ND AVE
OWASSO, OK 74055

This lender issued this SBA small 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.

NAICS Code

811310 - Commercial and Industrial Machinery and Equipment

Loan Approval Date

7/26/2006

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $25,500.

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 6 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.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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 $30,000 loan. Remember, feel the fear, and do it anyway.

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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