Tulsa, Oklahoma Lender Lends Money to Carpet One

Thinking about meeting with a Tulsa, Oklahoma bank about a business loan? Here's one Oklahoma business loan, issued by a Tulsa bank, that was approved by the SBA.

Applying for an SBA loan with Arvest Bank worked out well for our friends at Carpet One in Tulsa, Oklahoma. They received an SBA loan for $567,000. Great job!

SBA Loan Borrower

CARPET ONE
11413 EAST 21ST STREET
TULSA, OK 74129

SBA Loan Lender

ARVEST BANK
502 S MAIN MALL
TULSA, OK 74103

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

442210 - Floor Covering Stores

Loan Approval Date

8/17/2001

Loan Approval Gross Amount

$567,000

Loan Approval from the SBA

Of the total $567,000 loan amount, the SBA guaranteed $425,250.

More Information on This SBA Loan

The borrower, Carpet One, borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 25 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees. This loan was paid in full, and was closed out on 2/3/2003.

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

Many small businesses receive loans backed by the U.S. Small Business Administration.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as Carpet One walked into Arvest Bank and applied for an SBA loan, you have to do the same thing. The sooner you start, the faster you'll get the money!

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

Best Banks in Tulsa, Oklahoma

SBA Lenders in Oklahoma

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