Small Business Loans for Direct Insurance Carriers

With these small business loans for direct insurance carriers, the SBA guarantees the lender that the loan will be repaid. This direct insurance carriers loan for $5,000 was given to an Oklahoma entrepreneur in 2004.

Mcs Insurance Agency 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 2004. The lending bank was Innovative Bank, based in Oakland, California.

SBA Loan Borrower

MCS INSURANCE AGENCY
5314 S NEWPORT
TULSA, OK 74105

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 small business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

524128 - Other Direct Insurance (except Life, Health, and Medical) Carriers

Loan Approval Date

2/3/2004

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, Mcs Insurance Agency, borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 3 existing jobs.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

We can help you find the best banks for small businesses in Tulsa or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

About This SBA Loan Information:

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

Related Links:

Obtaining Funding - How to Borrow Money

Find an SBA Lender in Oakland, California

Find an SBA Lender in California

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