Oklahoma Bank Loan Issued to Chromium Plating Co

Business loans in Oklahoma are hard to find these days. We take a look at one Oklahoma business loan, provided by an Oklahoma bank, that was approved by the SBA.

By giving the right information to Arkansas Valley State Bank, this Tulsa, Oklahoma business was able to get an SBA loan. To get this loan, Chromium Plating Co gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

CHROMIUM PLATING CO
412 NORTH CHEYENNE
TULSA, OK 74101

SBA Loan Lender

ARKANSAS VALLEY STATE BANK
302 S MAIN
BROKEN ARROW, OK 74012

This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

332813 - Electroplating, Plating, Polishing, Anodizing, and Coloring

Loan Approval Date

8/20/2007

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $75,000.

More Information on This SBA Loan

The borrower, Chromium Plating Co, borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 33 employees. The SBA loan application for the borrower indicated that the loan would help retain 33 existing jobs.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. Chromium Plating Co needed a loan. Arkansas Valley State 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, Arkansas Valley State Bank made the loan. The end result was that Chromium Plating Co 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:

Small Business Credit Cards

SBA Approved Banks in Broken Arrow, Oklahoma

Oklahoma SBA 7A Lenders

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