Borrowing Money for Special Trade Contractors

With these bank loans for special trade contractors, the SBA guarantees the lender that the loan will be repaid. This special trade contractors loan for $376,500 was given to an Oklahoma entrepreneur in 2002.

Shamrock Coatings LLC received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Spiritbank, out of Tulsa, Oklahoma. The loan was granted and they received $376,500 to help grow their Sapulpa, Oklahoma business.

SBA Loan Borrower

SHAMROCK COATINGS LLC
19967 W HEY 66
SAPULPA, OK 74067

SBA Loan Lender

SPIRITBANK
4815 S HARVARD
TULSA, OK 74135

This commercial loan was provided by a lender with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan applications to the SBA get more expeditious service from the SBA on their loan applications.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1799 - Special Trade Contractors, N.E.C.-Base Hsing Maint

NAICS Code

235990 - All Other Special Trade Contractors

Loan Approval Date

7/19/2002

Loan Approval Gross Amount

$376,500

Loan Approval from the SBA

Of the total $376,500 loan amount, the SBA guaranteed $282,375.

More Information on This SBA Loan

The borrower, Shamrock Coatings LLC, borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 7 employees. The loan application did not indicate that the small business planned to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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:

Small Business Loan

Banks in Tulsa, Oklahoma

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