Bank - Oklahoma SBA Loan to L & O Pump & Supply Inc

Bank - Oklahoma 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.

L & O Pump & Supply Inc knew how to go about getting a business bank loan. Based in Oklahoma City, Oklahoma, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Bank - Oklahoma, based in Tulsa, Oklahoma.

SBA Loan Borrower

L & O PUMP & SUPPLY INC
1921 S HIGH STREET
OKLAHOMA CITY, OK 73129

SBA Loan Lender

BANK - OKLAHOMA
ONE WILLIAMS CTR
TULSA, OK 74172

This lender provides SBA commercial loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333132 - Oil and Gas Field Machinery and Equipment Manufacturing

Loan Approval Date

5/24/2004

Loan Approval Gross Amount

$425,000

Loan Approval from the SBA

Of the total $425,000 loan amount, the SBA guaranteed $318,750.

More Information on This SBA Loan

The borrower, L & O Pump & Supply Inc, borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 9 employees. The SBA loan documents indicated that the loan would help retain 9 existing jobs. This loan was paid in full, and was closed out on 7/31/2007.

Great, But How Can I Get an SBA Loan for My Business?

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

If L & O Pump & Supply Inc can get an SBA loan, there's no reason you can't get an SBA loan too. The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

About This SBA Loan Information:

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

Related Links:

Angel Investors

Best Banks in Tulsa, Oklahoma

SBA Lenders in Oklahoma

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