Raising Money for Musical Instrument and Supplies Stores

With these bank loans for musical instrument and supplies stores, the SBA guarantees the lender that the loan will be repaid. This musical instrument and supplies stores loan for $30,000 was given to an Oklahoma entrepreneur in 2000.

Getting a small business loan in Pauls Valley, Oklahoma was important for this company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Landmark Bank, operating out of Wynnewood, Oklahoma. Here are the details on this Oklahoma small business loan.

SBA Loan Borrower

COMPANY TYPE: MUSICAL INSTRUMENT STORES
PAULS VALLEY, OK 73075

SBA Loan Lender

LANDMARK BANK
201 S DEAN A MCGEE
WYNNEWOOD, OK 73098

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with appliying for an SBA loan . 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. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5736 - Musical Instrument Stores

NAICS Code

451140 - Musical Instrument and Supplies Stores

Loan Approval Date

3/2/2000

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $24,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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:

Obtaining Funding - Getting Venture Capital

SBA Participating Banks in Wynnewood, Oklahoma

SBA Lenders in Oklahoma