Loans for Full-Service Restaurants

With these loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $500,000 was given to an Oklahoma entrepreneur in 2000.

This small firm knew how to go about getting a business bank loan. Based in Edmond, Oklahoma, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Arvest Bank, based in Del City, Oklahoma.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
EDMOND, OK 73013

SBA Loan Lender

ARVEST BANK
4600 SE 29TH ST
DEL CITY, OK 73115

This lender issued this loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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

722110 - Full-Service Restaurants

Loan Approval Date

11/8/2000

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $375,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 150 employees. The loan application did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a company in Edmond OK, you ought to talk with a local Edmond SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Edmond businesses.

This SBA loan was for $500,000. How would you spend $500,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Business Line of Credit

SBA 7A Lenders in Del City, Oklahoma

Oklahoma SBA Bank Lenders