Entrepreneur Works With Tulsa, Oklahoma Bank to Get an SBA Loan

A Tulsa, Oklahoma business loan can be yours. Learn how Gary D. Bridges, Colette R. Bridges, Ronal got a $222,000 business loan from this Oklahoma bank.

This loan to Gary D. Bridges, Colette R. Bridges, Ronal is a good example of an SBA loan. Arvest Bank made the loan and the SBA guaranteed a portion of the loan. Many other Missouri entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

Gary D. Bridges, Colette R. Bridges, Ronal
11600 Hammer Rd.
Neosho, MO 64850

SBA Loan Lender

ARVEST BANK
3409 S PEORIA AVE, STE 1
TULSA, OK 74105

This debt financing was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

332710 - Machine Shops

Loan Approval Date

8/2/2005

Loan Approval Gross Amount

$222,000

Loan Approval from the SBA

Of the total $222,000 loan amount, the SBA guaranteed $111,000.

More Information on This SBA Loan

The borrower, Gary D. Bridges, Colette R. Bridges, Ronal, borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The loan application indicated that the loan would help retain 3 existing jobs. This loan was paid in full, and was closed out on 11/5/2007.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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:

Direct Public Offerings

SBA 7A Lenders in Tulsa, Oklahoma

SBA Oklahoma Banks

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