Shutdown Clenches Small Business Loans, Entrepreneurs - KTUL.com - Tulsa, Oklahoma - News, Weather & Sports

Shutdown Clenches Small Business Loans, Entrepreneurs

Posted: Updated:

Think about the small businesses you use, the neighborhood grocery store, a doctor or dentist. They could be suffering because of the government shutdown.

The Small Business Administration backs and guarantees loans to entrepreneurs. But not right now, during the shutdown.

At Tulsa's Regent Bank, it is almost business as usual. But if you are small business looking for a loan, you may be out of luck.

Regent Bank is one that handles loans, that are guaranteed by the Small Business Administration.

Right now. the SBA is not processing new applications for those loans, because federal workers are furloughed and not there to do the work.

Regent Bank has some clients who have done their applications,  which are not being processed or approved.

The loans are usually from 100 thousand to 5 million dollars. For some,  it's money to start up a business. For others,  it's money to refinance, grow or even sustain them during a tough time.

"We are watching them suffer, and lose opportunities and potentially go out of business while we are sitting here waiting on the government to not be shut down: No matter what side you are on, politically this is a bad thing for small business people," said Sean Kouplen, CEO of Regent Bank.

The shutdown also effects training and counseling provided for entrepreneurs from the SBA

  • Top Videos

  • NewsMore>>

  • City Councilor Sued For Defamation

    City Councilor Sued For Defamation

    Massage parlors are places where people go to relax, but two Tulsa venues are now at the center of a very tense lawsuit."Something not OK is happening inside these walls," said Tulsa city councilor Blake Ewing.It was back in March, when the Tulsa city council heard an appeal on a nuisance complaint."Does a person who has been subjected to a nuisance complaint have a right to say I didn't do that?" said Attorney Tony Mareshie, who was there on behalf of the owner of All Hands on Massage and th...More >>
    Massage parlors are places where people go to relax, but two Tulsa venues are now at the center of a very tense lawsuit."Something not OK is happening inside these walls," said Tulsa city councilor Blake Ewing.It was back in March, when the Tulsa city council heard an appeal on a nuisance complaint."Does a person who has been subjected to a nuisance complaint have a right to say I didn't do that?" said Attorney Tony Mareshie, who was there on behalf of the owner of All Hands on Massage and th...More >>
  • Authorities Seek Adair Co. Murder Suspect

    Authorities Seek Adair Co. Murder Suspect

    The Oklahoma State Bureau of Investigation is offering a cash reward for anyone who can provide helpful information as they try to locate James Manken, a 40-year-old homicide suspect.More >>
    The Oklahoma State Bureau of Investigation is offering a cash reward for anyone who can provide helpful information as they try to locate James Manken, a 40-year-old homicide suspect.More >>
  • OSU's Football Program No Longer Under APR Restriction

    OSU's Football Program No Longer Under APR Restriction

    OSU athletic department officials discovered the recent graduation of student-athlete from the 1990s, which resulted in the addition of a delayed graduation point to push the Cowboys above the threshold for restrictions.More >>
    OSU athletic department officials discovered the recent graduation of student-athlete from the 1990s, which resulted in the addition of a delayed graduation point to push the Cowboys above the threshold for restrictions.More >>

Most Popular

Stories
Videos
loading...
Powered by WorldNow

P.O. Box 8 Tulsa, OK 74101-0008

Powered by WorldNow

All content © Copyright 2000 - 2014 Worldnow and KTUL. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.