Small Business Loans for Graphic Design Services

Looking for small business loans for graphic design services? Talk to a banker who works with the SBA. This $150,000 graphic design services loan was issued by an Oklahoma bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Tulsa, Oklahoma was able to borrow $150,000 from Triad Bank. The SBA made the loan possible by guaranteeing $127,500 of this Oklahoma small business loan.

SBA Loan Borrower

HOMETOWN THREADS LLC
1001 E 33RD PL
TULSA, OK 74105

SBA Loan Lender

TRIAD BANK
7666 E 61ST ST, STE 150
TULSA, OK 74133

This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541430 - Graphic Design Services

Loan Approval Date

10/22/2001

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower, Hometown Threads LLC, 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 8 employees. This SBA loan request did not indicate that the business planned to use the money to add employees or retain any existing employees. This loan was paid in full, and was closed out on 3/5/2004.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

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:

Accountant's Role in Securing Financing

Banks in Tulsa, Oklahoma

Find an SBA Lender in Oklahoma

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