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| Entrepreneur Resources | Security Bank Pawnee Business Loans | ||||
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Tulsa, Oklahoma Bank for SBA Loans
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Commercial Loans for Oil and Gas Field Machinery and Equipment ManufacturingLooking for commercial loans for oil and gas field machinery and equipment manufacturing? The SBA may be the answer. This $590,000 oil and gas field machinery and equipment manufacturing loan was issued by an Oklahoma bank.
Global Industrial, 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 Security Bank, based in Pawnee, Oklahoma. SBA Loan Borrower GLOBAL INDUSTRIAL, INC. SBA Loan Lender SECURITY BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 333132 - Oil and Gas Field Machinery and Equipment Manufacturing Loan Approval Date 5/25/2005 Loan Approval Gross Amount $590,000 Loan Approval from the SBA Of the total $590,000 loan amount, the SBA guaranteed $442,500. More Information on This SBA Loan The borrower, Global Industrial, Inc., borrowed this money for a new business. The SBA's record indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 20 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! About This SBA Loan Information: All SBA loan data displayed above comes from the government's SBA loan database. Related Links: Role of Business Plan When Raising Money Best Banks for Small Business in Pawnee, Oklahoma Getting an SBA Loan in Oklahoma If you are an ambitious entrepreneur or an aspiring executive looking to get involved with a startup, please take the time to learn more about Gaebler Ventures.
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