Entrepreneur Works With Watonga, Oklahoma Bank to Get an SBA Loan

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

First State Bank is a Watonga, 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: HOTELS AND MOTELS
WATONGA, OK 73772

SBA Loan Lender

FIRST STATE BANK
321 W MAIN ST
WATONGA, OK 73772

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

9/24/2003

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $17,000.

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 3 employees. The loan application did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.

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

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

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First State Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Advice on Getting a Small Business Loan

SBA 7A Lenders in Watonga, Oklahoma

Getting an SBA Loan in Oklahoma