Scrapworx,Inc. Gets an Oklahoma Business Loan

Oklahoma business loans are available to Oklahoma business owners through the SBA. In this case, an Oklahoma bank provides the loan.

Scrapworx,Inc., based in Broken Arrow, Oklahoma, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Nbanc. We've got the inside scoop on this Oklahoma small business loan.

SBA Loan Borrower

SCRAPWORX,INC.
820 N. SYCAMORE
BROKEN ARROW, OK 74012

SBA Loan Lender

NBANC
7127 S RIVERSIDE DR
TULSA, OK 74136

This lender issued this particular SBA business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

323118 - Blankbook, Looseleaf Binders, and Devices Manufacturing

Loan Approval Date

4/10/2003

Loan Approval Gross Amount

$85,000

Loan Approval from the SBA

Of the total $85,000 loan amount, the SBA guaranteed $72,250.

More Information on This SBA Loan

The borrower, Scrapworx,Inc., borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. Scrapworx,Inc. recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

About This SBA Loan Information:

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

Related Links:

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