Entrepreneur Works With Tulsa, Oklahoma Bank to Get an SBA Loan

Get SBA loans from a Tulsa, Oklahoma bank that knows how to treat small business owners right! If Mac's Electric Supply Company can get a loan, there's no reason you can't do it too.

Community Bank & Trust Company is a Tulsa, Oklahoma small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to Mac's Electric Supply Company an Oklahoma company.

SBA Loan Borrower

MAC'S ELECTRIC SUPPLY COMPANY
1624 E. 3RD ST
TULSA, OK 74107

SBA Loan Lender

COMMUNITY BANK & TRUST COMPANY
8908 S YALE, STE 100-91ST
TULSA, OK 74105

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

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

444190 - Other Building Material Dealers

Loan Approval Date

3/31/2005

Loan Approval Gross Amount

$800,000

Loan Approval from the SBA

Of the total $800,000 loan amount, the SBA guaranteed $600,000.

More Information on This SBA Loan

The borrower, Mac's Electric Supply Company, 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 9 employees. This SBA loan request did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees. This loan was paid in full, and was closed out on 11/30/2007.

Great, But How Can I Get an SBA Loan for My Business?

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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.

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