Commercial Loans for Nonchocolate Confectionery Manufacturing

With these commercial loans for nonchocolate confectionery manufacturing, the SBA guarantees the lender that the loan will be repaid. This nonchocolate confectionery manufacturing loan for $150,000 was given to an Oklahoma entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Tulsa, Oklahoma was able to borrow $150,000 from Spiritbank. The SBA made the loan possible by guaranteeing $127,500 of this Oklahoma small business loan.

SBA Loan Borrower

COMPANY TYPE: NONCHOCOLATE CONFECTIONERY MANUFACTURING
TULSA, OK 74136

SBA Loan Lender

SPIRITBANK
4815 S HARVARD
TULSA, OK 74135

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

311340 - Nonchocolate Confectionery Manufacturing

Loan Approval Date

10/15/2004

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 5 employees. The SBA loan application for the borrower did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Spiritbank and they will explain how you can get an SBA loan for your company.

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:

Startup Funding Tip

Best Tulsa, Oklahoma Banks for Small Business

Oklahoma SBA 7A Banks