Onb Bank And Trust Company Gives Bank Loan to Bonavista Technologies, Inc.

Oklahoma business loans are available to Oklahoma business owners through the SBA. In this case, an Oklahoma bank provides the loan.

Bonavista Technologies, Inc., based in Tulsa, Oklahoma, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Onb Bank And Trust Company. We've got the inside scoop on this Oklahoma small business loan.

SBA Loan Borrower

BONAVISTA TECHNOLOGIES, INC.
6004 S. 118TH EAST AVENUE
TULSA, OK 74146

SBA Loan Lender

ONB BANK AND TRUST COMPANY
2424 E 21ST ST, STE 100
TULSA, OK 74114

This lender issued this small business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

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

334516 - Analytical Laboratory Instrument Manufacturing

Loan Approval Date

6/23/2005

Loan Approval Gross Amount

$750,000

Loan Approval from the SBA

Of the total $750,000 loan amount, the SBA guaranteed $675,000.

More Information on This SBA Loan

The borrower, Bonavista Technologies, 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 10 employees. The SBA loan documents did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees. This loan was paid in full, and was closed out on 11/30/2006.

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Onb Bank And Trust Company that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

About This SBA Loan Information:

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

Related Links:

How Equity Dilution Works

Small Bank Loans in Tulsa, Oklahoma

SBA Participating Banks in Oklahoma

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