How to Get a Loan for General Merchandise Stores

Looking for business loans for general merchandise stores? The SBA may be the answer. This $200,000 general merchandise stores 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 $200,000 from Albright Title & Trust. The SBA made the loan possible by guaranteeing $150,000 of this Oklahoma small business loan.

SBA Loan Borrower

COMPANY TYPE: VARIETY STORES
TULSA, OK 74105

SBA Loan Lender

ALBRIGHT TITLE & TRUST
100 N MAIN
NEWKIRK, OK 74647

This SBA business loan was provided by a banker with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loans to the SBA get more expeditious service from the SBA on their loan applications.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5331 - Variety Stores

NAICS Code

452990 - General Merchandise Stores

Loan Approval Date

2/22/2001

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $150,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 21 employees. The SBA loan application for the borrower did not indicate that the company planned to use the money to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you want money for new small business in Tulsa OK, you ought to talk with a local Tulsa SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Tulsa 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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