Broken Arrow, Oklahoma Business Gets SBA-Guaranteed Funding from Triad Bank

Triad Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Oklahoma entrepreneur who tapped into the power of SBA loans.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Broken Arrow, Oklahoma was able to borrow $90,000 from Triad Bank. The SBA made the loan possible by guaranteeing $76,500 of this Oklahoma small business loan.

SBA Loan Borrower

GRAY'S EXPEDITING
PO BOX 140371
BROKEN ARROW, OK 74014

SBA Loan Lender

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

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

484121 - General Freight Trucking, Long Distance, Truckload

Loan Approval Date

11/21/2003

Loan Approval Gross Amount

$90,000

Loan Approval from the SBA

Of the total $90,000 loan amount, the SBA guaranteed $76,500.

More Information on This SBA Loan

The borrower, Gray's Expediting, borrowed this money for a new business. The SBA's record indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

We've showcased information on this loan to Gray's Expediting to let you know that businesses like yours can get an SBA loan.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's SBA loan database.

Related Links:

Determining Proper Capital Structure for a Business

Banks in Tulsa, Oklahoma

SBA Oklahoma Lenders

If you are an ambitious entrepreneur or an aspiring executive looking to get involved with a startup, please take the time to learn more about Gaebler Ventures.