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| Entrepreneur Resources | Citizens Security Bank & Trust Bixby Business Loans | ||||
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Raising Money in Tulsa, Oklahoma With SBA Loans
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Raising Money for Powder Metallurgy Part ManufacturingLooking for bank loans for powder metallurgy part manufacturing? Try the SBA. This $862,000 powder metallurgy part manufacturing loan was issued by an Oklahoma bank.
Global Structural Products Cor 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 2007. The lending bank was Citizens Security Bank & Trust, based in Bixby, Oklahoma. SBA Loan Borrower GLOBAL STRUCTURAL PRODUCTS COR SBA Loan Lender CITIZENS SECURITY BANK & TRUST SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This debt financing was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 332117 - Powder Metallurgy Part Manufacturing Loan Approval Date 11/15/2007 Loan Approval Gross Amount $862,000 Loan Approval from the SBA Of the total $862,000 loan amount, the SBA guaranteed $646,500. More Information on This SBA Loan The borrower, Global Structural Products Cor, borrowed this money for an existing 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 21 employees. This SBA loan request indicated that the loan would help retain 21 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. Global Structural Products Cor needed a loan. Citizens Security Bank & Trust 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, Citizens Security Bank & Trust made the loan. The end result was that Global Structural Products Cor 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: Borrowing Money from Friends and Family 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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