Raising Money for Legal Services

With these business loans for legal services, the SBA guarantees the lender that the loan will be repaid. This legal services loan for $313,000 was given to an Oklahoma entrepreneur in 2001.

Getting a small business loan in Tulsa, Oklahoma was important for Peterson Court Reporting Servi back in 2001 and, based on their loan application, they were successful in getting an SBA loan from First Bank Of Owasso, operating out of Owasso, Oklahoma. Here are the details on this Oklahoma small business loan.

SBA Loan Borrower

PETERSON COURT REPORTING SERVI
3015 E SKELLY DR.
TULSA, OK 74105

SBA Loan Lender

FIRST BANK OF OWASSO
102 W 2ND AVE
OWASSO, OK 74055

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

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7389 - Business Services, N.E.C.

NAICS Code

541199 - All Other Legal Services

Loan Approval Date

6/29/2001

Loan Approval Gross Amount

$313,000

Loan Approval from the SBA

Of the total $313,000 loan amount, the SBA guaranteed $234,750.

More Information on This SBA Loan

The borrower, Peterson Court Reporting Servi, borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. This SBA loan request did not indicate that the business promised to use the funding to add employees or retain any existing employees. This loan was paid in full, and was closed out on 11/4/2005.

Start the Process for Getting an SBA Loan Today!

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

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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