Financing for Collection Agencies

With these commercial loans for collection agencies, the SBA guarantees the lender that the loan will be repaid. This collection agencies loan for $50,000 was given to an Oklahoma entrepreneur in 2005.

First Credit Services Inc knew how to go about getting a business bank loan. Based in Tulsa, Oklahoma, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was 1st National Bank & Trust - Broken, based in Broken Arrow, Oklahoma.

SBA Loan Borrower

FIRST CREDIT SERVICES INC
5810 E SKELLY DR SUITE 2
TULSA, OK 74135

SBA Loan Lender

1ST NATIONAL BANK & TRUST - BROKEN
121 S MAIN
BROKEN ARROW, OK 74012

This lender processed this SBA business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

561440 - Collection Agencies

Loan Approval Date

1/13/2005

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

More Information on This SBA Loan

The borrower, First Credit Services Inc, borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 20 employees. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 20 existing jobs.

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.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like 1st National Bank & Trust - Broken are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

About This SBA Loan Information:

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

Related Links:

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Good Banks for Small Business in Broken Arrow, Oklahoma

Oklahoma SBA Bank Lenders

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