Tulsa, OK Entrepreneur Gets SBA Loan to Buy Cottman Transmission Franchise

Need a loan to invest in a Cottman Transmission franchise? The Exchange Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Cottman Transmission franchise may simply require a phone call to a local SBA banker. In 2003, The Exchange Bank issued an SBA franchise loan to an entrepreneur in Tulsa, Oklahoma. Because Cottman Transmission was registered with the SBA's registry of franchises, this Oklahoma small business loan was issued on an expedited basis.

SBA Loan Borrower

COTTMAN TRANSMISSION
TULSA, OK 74115

SBA Loan Lender

THE EXCHANGE BANK
300 W ROGERS BLVD
SKIATOOK, OK 74070

This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with borrowing money. 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.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

4/16/2003

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $102,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Cottman Transmission franchise. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Cottman Transmissions

Attracting Investors

Good Banks for Small Business in Skiatook, Oklahoma

SBA Lenders in Oklahoma