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December 22, 2024 |
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| Home > Small Business Lenders by State > Oklahoma Business Loan Sources > Tulsa, Business Loans > Onb Bank And Trust Company Tulsa Business Loans > General Automotive Repair Shops Loan | ||||
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How to Get SBA Loans in Tulsa, Oklahoma
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Commercial Loans for General Automotive RepairLooking for commercial loans for general automotive repair? Try the SBA. This $1,025,000 general automotive repair loan was issued by an Oklahoma bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Tulsa, Oklahoma was able to borrow $1,025,000 from Onb Bank And Trust Company. The SBA made the loan possible by guaranteeing $748,250 of this Oklahoma small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SHOPS SBA Loan Lender ONB BANK AND TRUST COMPANY This lender issued this SBA loan under the SBA's 7(a) guaranteed loan 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. SIC Code 7538 - General Automotive Repair Shops NAICS Code 811111 - General Automotive Repair Loan Approval Date 10/20/2000 Loan Approval Gross Amount $1,025,000 Loan Approval from the SBA Of the total $1,025,000 loan amount, the SBA guaranteed $748,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 15 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide money to small business owners for working capital for other expenses. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Onb Bank And Trust Company and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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 - How to Decide How Much to Raise Who Lends Money to Small Businesses in Tulsa, Oklahoma
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