Security Bank Gives Bank Loan to Home And Garden Equipment Repair And Maintenance Company

OklahomaSBA loans are available to Oklahoma entrepreneurs through the SBA. In this case, an Oklahoma bank provides the loan.

By giving the right information to Security Bank, this Owasso, Oklahoma business was able to get an SBA loan. To get this loan, the applying company 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: HOME AND GARDEN EQUIPMENT REPAIR AND MAINTENANCE
OWASSO, OK 74055

SBA Loan Lender

SECURITY BANK
551 HARRISON ST
PAWNEE, OK 74058

This lender issued this small business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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

811411 - Home and Garden Equipment Repair and Maintenance

Loan Approval Date

9/23/2003

Loan Approval Gross Amount

$1,242,000

Loan Approval from the SBA

Of the total $1,242,000 loan amount, the SBA guaranteed $931,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you need business start up money in Owasso OK, you ought to talk with a local Owasso SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Owasso businesses.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Security Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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