Financing for Machine Shops

With these commercial loans for machine shops, the SBA guarantees the lender that the loan will be repaid. This machine shops loan for $662,187 was given to an Oklahoma entrepreneur in 2003.

Specialty Components, Inc. 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 2003. The lending bank was The Exchange Bank, based in Skiatook, Oklahoma.

SBA Loan Borrower

SPECIALTY COMPONENTS, INC.
2444 N. COLUMBIA PLACE
TULSA, OK 74110

SBA Loan Lender

THE EXCHANGE BANK
300 W ROGERS BLVD
SKIATOOK, OK 74070

This lender issued this commercial loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

332710 - Machine Shops

Loan Approval Date

3/28/2003

Loan Approval Gross Amount

$662,187

Loan Approval from the SBA

Of the total $662,187 loan amount, the SBA guaranteed $496,640.

More Information on This SBA Loan

The borrower, Specialty Components, Inc., borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 15 employees. The loan application did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

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

SBA loans provide money to small business owners for working capital for other expenses.

If Specialty Components, Inc. can get an SBA loan, there's no reason you can't get an SBA loan too. The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

About This SBA Loan Information:

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

Related Links:

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Good Banks for Small Business in Skiatook, Oklahoma

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