Spiritbank Gives Bank Loan to Floral Creations

Bank loans in Oklahoma are are few and far betweeen these days. We take a look at one Oklahoma bank loan, provided by an Oklahoma bank, that was approved by the SBA.

Floral Creations, based in Claremore, 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 Spiritbank. We've got the inside scoop on this Oklahoma small business loan.

SBA Loan Borrower

FLORAL CREATIONS
16875 E 480 RD
CLAREMORE, OK 74017

SBA Loan Lender

SPIRITBANK
9618 S MEMORIAL
TULSA, OK 74133

This lender issued this particular SBA bank 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

453110 - Florists

Loan Approval Date

5/23/2003

Loan Approval Gross Amount

$93,800

Loan Approval from the SBA

Of the total $93,800 loan amount, the SBA guaranteed $79,730.

More Information on This SBA Loan

The borrower, Floral Creations, borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Spiritbank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

About This SBA Loan Information:

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

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