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| Entrepreneur Resources | Community Bank & Trust Company Tulsa Business Loans | ||||
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SBA Lenders Oklahoma
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Tulsa, Oklahoma Bank Gives SBA Loan to Heritage Plumbing & Drain CorpGet to know Tulsa, Oklahoma banks that specialize in business loans and know how to work with entrepreneurs. Community Bank & Trust Company is one such bank, as evidenced by this SBA loan to Heritage Plumbing & Drain Corp.
Finding a small business loan in Broken Arrow, Oklahoma starts with an understanding of who else has gotten loans in the area. In this case, Heritage Plumbing & Drain Corp received funding from Community Bank & Trust Company Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower HERITAGE PLUMBING & DRAIN CORP SBA Loan Lender COMMUNITY BANK & TRUST COMPANY This lender issued this loan for a small business under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 235110 - Plumbing, Heating, and Air Conditioning Contractors Loan Approval Date 4/17/2001 Loan Approval Gross Amount $600,000 Loan Approval from the SBA Of the total $600,000 loan amount, the SBA guaranteed $450,000. More Information on This SBA Loan The borrower, Heritage Plumbing & Drain Corp, 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 40 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees. This loan was paid in full, and was closed out on 1/26/2007. Start the Process for Getting an SBA Loan Today! If you need money to start a business or need money to grow a business, an SBA loan can be a great way to raise money 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 SBA loan database. Related Links: SBA Participating Banks in Tulsa, Oklahoma Find an SBA Lender in Oklahoma 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.
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