SBA Loan from Spiritbank Helps Kennedy Service Group, LLC

Spiritbank 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 $670,000 from Spiritbank. The SBA made the loan possible by guaranteeing $502,500 of this Oklahoma small business loan.

SBA Loan Borrower

KENNEDY SERVICE GROUP, LLC
231 EAST COMMERCIAL STREET
BROKEN ARROW, OK 74012

SBA Loan Lender

SPIRITBANK
1800 S BALTIMORE
TULSA, OK 74119

This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812210 - Funeral Homes and Funeral Services

Loan Approval Date

9/11/2007

Loan Approval Gross Amount

$670,000

Loan Approval from the SBA

Of the total $670,000 loan amount, the SBA guaranteed $502,500.

More Information on This SBA Loan

The borrower, Kennedy Service Group, LLC, borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 3 existing jobs.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Spiritbank and they will explain how you can get an SBA loan for your company.

About This SBA Loan Information:

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

Related Links:

Strategic Investors

SBA Approved Banks in Tulsa, Oklahoma

SBA Lenders in Oklahoma

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