Duncan, Oklahoma Bank Lends Money to Machine Shops Company in Velma, Oklahoma

Get SBA loans from a Duncan, Oklahoma bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too.

First Bank & Trust Co. is a Duncan, Oklahoma small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to an Oklahoma company.

SBA Loan Borrower

COMPANY TYPE: MACHINE SHOPS
VELMA, OK 73491

SBA Loan Lender

FIRST BANK & TRUST CO.
923 W MAIN ST
DUNCAN, OK 73533

The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

332710 - Machine Shops

Loan Approval Date

5/31/2007

Loan Approval Gross Amount

$102,100

Loan Approval from the SBA

Of the total $102,100 loan amount, the SBA guaranteed $51,050.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The loan application indicated that the borrowed money would help create 1 new job.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First Bank & Trust Co. had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First Bank & Trust Co. made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Raising Venture Capital

SBA 7A Lenders in Duncan, Oklahoma

SBA Oklahoma Lenders