Tuttle, Oklahoma Lender Lends Money to Full-Service Restaurants Company

A Tuttle, Oklahoma SBA loan can be yours. Learn how one firm got a $331,440 business loan from this Oklahoma bank.

This loan to an entrepreneur is a good example of an SBA loan. Chickasha Bank & Trust Company made the loan and the SBA guaranteed a portion of the loan. Many other Oklahoma entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
BLANCHARD, OK 73010

SBA Loan Lender

CHICKASHA BANK & TRUST COMPANY
5003 E HWY 37
TUTTLE, OK 73089

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide 7A business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

7/18/2007

Loan Approval Gross Amount

$331,440

Loan Approval from the SBA

Of the total $331,440 loan amount, the SBA guaranteed $248,580.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 9 employees. This SBA loan request indicated that the funding would help create 9 new jobs.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Chickasha Bank & Trust Company and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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Banks in Tuttle, Oklahoma

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