Raising Money for Food Crops Grown Under Cover

With these bank loans for food crops grown under cover, the SBA guarantees the lender that the loan will be repaid. This food crops grown under cover loan for $25,000 was given to an Oklahoma entrepreneur in 2003.

This company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with First National Bank - Oklahoma, out of Oklahoma City, Oklahoma. The loan was granted and they received $25,000 to help grow their Ponca City, Oklahoma business.

SBA Loan Borrower

COMPANY TYPE: FOOD CROPS GROWN UNDER COVER
PONCA CITY, OK 74604

SBA Loan Lender

FIRST NATIONAL BANK - OKLAHOMA
5625 N WESTERN AVE
OKLAHOMA CITY, OK 73118

This lender issued this particular commercial loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

111419 - Food Crops Grown Under Cover

Loan Approval Date

9/9/2003

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $21,250.

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 only one employee. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

We can help you find the best banks for small businesses in Ponca City or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Small Business Loan

SBA Banks in Oklahoma City, Oklahoma

Oklahoma SBA 7A Lenders