Bartlesville, OK Entrepreneur Gets SBA Loan to Buy Ron's Hamburgers & Chili Franchise

Borrowing money to purchase a Ron's Hamburgers & Chili franchise? Stillwater National Bank & Trust has a history of making these loans and they are guaranteed by the SBA.

If you live near Bartlesville, Oklahoma and are interested in buying a Ron's Hamburgers & Chili franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2001 by Stillwater National Bank & Trust. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

RON'S HAMBURGER & CHILI
BARTLESVILLE, OK 74006

SBA Loan Lender

STILLWATER NATIONAL BANK & TRUST
608 S MAIN
STILLWATER, OK 74074

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

11/15/2001

Loan Approval Gross Amount

$92,600

Loan Approval from the SBA

Of the total $92,600 loan amount, the SBA guaranteed $78,710.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Ron's Hamburgers & Chili franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help create 7 new jobs.

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

Although it's called an SBA loan, 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.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to 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 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.

Related Links:

Accountant's Role in Securing Financing

Small Bank Loans in Stillwater, Oklahoma

Oklahoma SBA Bank Lenders