Tulsa, Oklahoma Entrepreneur Gets a Bank Loan

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

By giving the right information to Innovative Bank, this Tulsa, Oklahoma business was able to get an SBA loan. To get this loan, Greg Roach LLC 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

GREG ROACH LLC
302 S CHEYENNE SUITE 9B
TULSA, OK 74101

SBA Loan Lender

INNOVATIVE BANK
360 14TH ST
OAKLAND, CA 94612

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

512199 - Other Motion Picture and Video Industries

Loan Approval Date

2/7/2005

Loan Approval Gross Amount

$5,000

Loan Approval from the SBA

Of the total $5,000 loan amount, the SBA guaranteed $4,250.

More Information on This SBA Loan

The borrower, Greg Roach LLC, 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 only one employee. The loan application indicated that the loan would help retain 1 existing job.

Next Steps for Getting an SBA Loan

If you are raising money in Tulsa OK, you ought to talk with a local Tulsa SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Tulsa businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as Greg Roach LLC walked into Innovative Bank and applied for an SBA loan, you have to do the same thing. The sooner you start, the faster you'll get the money!

About This SBA Loan Information:

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

Related Links:

Business Incubators

Where to Get an SBA Loan in Oakland, California

Browse All Business Loan Sources for California

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.