Tulsa, Oklahoma Business Gets SBA-Guaranteed Funding from Onb Bank And Trust Company

Onb Bank And Trust Company and the SBA work together to get business loans for growing small businesses. Here's an example of how an Oklahoma entrepreneur was able to get a loan to take a small business to the next level.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Tulsa, Oklahoma was able to borrow $500,000 from Onb Bank And Trust Company. The SBA made the loan possible by guaranteeing $450,000 of this Oklahoma small business loan.

SBA Loan Borrower

BONAVISTA TECHNOLOGIES, INC.
9743 E. 54TH ST.
TULSA, OK 74146

SBA Loan Lender

ONB BANK AND TRUST COMPANY
8908 S YALE AVE, STE 100
TULSA, OK 74137

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3829 - Measuring and Controlling Devices, N.E.C.

NAICS Code

334519 - Other Measuring and Controlling Device Manufacturing

Loan Approval Date

2/12/2003

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $450,000.

More Information on This SBA Loan

The borrower, Bonavista Technologies, Inc., 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 business promised to use the funding to hire new employees or retain any existing employees. This loan was paid in full, and was closed out on 6/28/2004.

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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. Bonavista Technologies, Inc. needed a loan. Onb Bank And Trust Company probably wouldn't have granted the loan based on the merits of the company, but with the SBA stepping up and agreeing to guarantee part of the loan, Onb Bank And Trust Company made the loan. The end result was that Bonavista Technologies, Inc. was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

About This SBA Loan Information:

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

Related Links:

Accountant's Role in Securing Financing

Where to Get an SBA Loan in Tulsa, Oklahoma

Oklahoma SBA 7A Banks

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