Entrepreneur Works With Oklahoma City, Oklahoma Bank to Get an SBA Loan

Thinking about meeting with an Oklahoma City, Oklahoma bank about a small business loan? Here's one Oklahoma business loan, issued by an Oklahoma City bank, that was approved by the SBA.

Applying for an SBA loan with Bank - Oklahoma worked out well for our friends at one local company in Tulsa, Oklahoma. The business was able to get an SBA loan for $722,850. Awesome!

SBA Loan Borrower

COMPANY TYPE: ENGINEERING SERVICES
TULSA, OK 74126

SBA Loan Lender

BANK - OKLAHOMA
7701 S WESTERN
OKLAHOMA CITY, OK 73139

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA bank loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8711 - Engineering Services

NAICS Code

541330 - Engineering Services

Loan Approval Date

10/19/2006

Loan Approval Gross Amount

$722,850

Loan Approval from the SBA

Of the total $722,850 loan amount, the SBA guaranteed $650,565.

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 5 employees. The SBA loan documents did not indicate that the small business planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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