Business Loan from Bancfirst Given to Bed-And-Breakfast Inns Company

An SBA loan from Bancfirst typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Ardmore, Oklahoma business owner got a $194,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Ardmore, Oklahoma was able to borrow $194,000 from Bancfirst. The SBA made the loan possible by guaranteeing $145,500 of this Oklahoma small business loan.

SBA Loan Borrower

COMPANY TYPE: BED-AND-BREAKFAST INNS
ARDMORE, OK 73401

SBA Loan Lender

BANCFIRST
101 N BROADWAY, STE 1050
OKLAHOMA CITY, OK 73102

This commercial loan was provided by a small business banker with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan requests to the SBA get more expeditious service from the SBA on their loan applications.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721191 - Bed-and-Breakfast Inns

Loan Approval Date

11/1/2004

Loan Approval Gross Amount

$194,000

Loan Approval from the SBA

Of the total $194,000 loan amount, the SBA guaranteed $145,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 8 employees. The SBA loan documents did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Bancfirst that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

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