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| Entrepreneur Resources | Bank - Oklahoma Tulsa Business Loans | ||||
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Bank - Oklahoma Loans
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Roofing, Siding, and Sheet Metal Contractors Business LoansWith these business loans for roofing, siding, and sheet metal contractors, the SBA guarantees the lender that the loan will be repaid. This roofing, siding, and sheet metal contractors loan for $100,000 was given to an Oklahoma entrepreneur in 2001.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Oklahoma City, Oklahoma was able to borrow $100,000 from Bank - Oklahoma. The SBA made the loan possible by guaranteeing $50,000 of this Oklahoma small business loan. SBA Loan Borrower CLOSE CUSTOM CABINETS INC SBA Loan Lender BANK - OKLAHOMA This commercial loan 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 235610 - Roofing, Siding, and Sheet Metal Contractors Loan Approval Date 12/3/2001 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. More Information on This SBA Loan The borrower, Close Custom Cabinets Inc, borrowed this money for an existing business. The SBA's record indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 50 employees. The SBA loan application for the borrower indicated that the loan would help retain 50 existing jobs. This loan was paid in full, and was closed out on 2/1/2005. Great, But How Can I Get an SBA Loan for My Business? SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. 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: Role of Business Plan When Raising Money Small Bank Loans in Tulsa, Oklahoma Getting an SBA Loan 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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