Oklahoma SBA Loan Issued to Industrial Machinery And Equipment Wholesalers Company

Small business loans in Oklahoma are hard to find these days. We take a look at one Oklahoma small business loan, provided by an Oklahoma bank, that was approved by the SBA.

Getting a small business loan in Tulsa, Oklahoma was a top priority for this small company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Triad Bank. Here are the details on this Oklahoma small business loan.

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL MACHINERY AND EQUIPMENT WHOLESALERS
TULSA, OK 74137

SBA Loan Lender

TRIAD BANK
7666 E 61ST ST, STE 150
TULSA, OK 74133

This SBA business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

421830 - Industrial Machinery and Equipment Wholesalers

Loan Approval Date

11/28/2005

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $262,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 2 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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

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 Triad Bank 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.

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