Borrowing Money for Store Retailers

Looking for small business loans for store retailers? Talk to a banker who works with the SBA. This $150,000 store retailers loan was issued by an Oklahoma bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Tulsa, Oklahoma was able to borrow $150,000 from Rcb Bank. The SBA made the loan possible by guaranteeing $127,500 of this Oklahoma small business loan.

SBA Loan Borrower

CATHOLIC BOOK & GIFT STORE
3141 SOUTH YATE
TULSA, OK 74135

SBA Loan Lender

RCB BANK
1300 E KENOSHA
BROKEN ARROW, OK 74012

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453998 - All Other Miscellaneous Store Retailers (except Tobacco Stores)

Loan Approval Date

9/10/2001

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower, Catholic Book & Gift Store, 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 2 employees. The SBA loan application for the borrower did not indicate that the business promised to use the money to hire new employees or retain any existing employees. This loan was paid in full, and was closed out on 2/3/2005.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. Catholic Book & Gift Store needed a loan. Rcb Bank 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, Rcb Bank made the loan. The end result was that Catholic Book & Gift Store 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:

The Art of Bootstrapping

SBA 7A Lenders in Broken Arrow, Oklahoma

SBA Oklahoma Lenders

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