Borrowing Money for Industrial Machinery and Equipment Merchant Wholesalers

Looking for loans for industrial machinery and equipment merchant wholesalers? Try the SBA. This $350,000 industrial machinery and equipment merchant wholesalers loan was issued by an Oklahoma bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Oklahoma City, Oklahoma was able to borrow $350,000 from Arvest Bank. The SBA made the loan possible by guaranteeing $175,000 of this Oklahoma small business loan.

SBA Loan Borrower

Air Systems and Pump Solutions, L.L.C.
3200 S. Ann Arbor
Oklahoma City, OK 73179

SBA Loan Lender

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

The lender provided this loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

423830 - Industrial Machinery and Equipment Merchant Wholesalers

Loan Approval Date

1/31/2007

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $175,000.

More Information on This SBA Loan

The borrower, Air Systems And Pump Solutions, L.L.C., borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help create 22 new jobs.

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

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan to Air Systems And Pump Solutions, L.L.C. shows that any business with ambition and the right qualifications can get an SBA loan.

About This SBA Loan Information:

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

Related Links:

Angel Investors

Small Business Banks in Tulsa, Oklahoma

Getting a Business Loan in Oklahoma

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