Business Loan from Arvest Bank Given to Air Comfort Solutions, LLC

An SBA loan from Arvest Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Oklahoma City, Oklahoma business owner got a $17,400 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Oklahoma City, Oklahoma was able to borrow $17,400 from Arvest Bank. The SBA made the loan possible by guaranteeing $8,700 of this Oklahoma small business loan.

SBA Loan Borrower

Air Comfort Solutions, LLC
6800 Pat Avenue
Oklahoma City, OK 73149

SBA Loan Lender

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

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

238220 - Plumbing, Heating, and Air-Conditioning Contractors

Loan Approval Date

10/17/2005

Loan Approval Gross Amount

$17,400

Loan Approval from the SBA

Of the total $17,400 loan amount, the SBA guaranteed $8,700.

More Information on This SBA Loan

The borrower, Air Comfort Solutions, LLC, borrowed this money for a new 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 17 employees. This SBA loan request indicated that the loan would help retain 17 existing jobs.

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

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

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:

The Art of Bootstrapping

Small Bank Loans in Tulsa, Oklahoma

Oklahoma SBA 7A Banks

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