Getting an SBA Loan for Special Trade Contractors

Looking for business loans for special trade contractors? The SBA may be the answer. This $145,000 special trade contractors loan was issued by an Oklahoma bank.

Getting a small business loan in Tulsa, Oklahoma was important for K & R Machine LLC back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Nbanc, operating out of Tulsa, Oklahoma. Here are the details on this Oklahoma small business loan.

SBA Loan Borrower

K & R MACHINE LLC
6412 S. 39TH WEST AVE.
TULSA, OK 74132

SBA Loan Lender

NBANC
7127 S RIVERSIDE DR
TULSA, OK 74136

This was a Low Documentation SBA loan. The SBA started this program to limit 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. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

235990 - All Other Special Trade Contractors

Loan Approval Date

12/19/2002

Loan Approval Gross Amount

$145,000

Loan Approval from the SBA

Of the total $145,000 loan amount, the SBA guaranteed $123,250.

More Information on This SBA Loan

The borrower, K & R Machine 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 8 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

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.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan to K & R Machine LLC shows that any business with ambition and the right qualifications can get an SBA loan.

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

Good Banks for Small Business in Tulsa, Oklahoma

Oklahoma SBA 7A Banks

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