Mcalester, Oklahoma Bank Lends Money to Full-Service Restaurants Company in Mcalester, Oklahoma

Thinking about meeting with a Mcalester, Oklahoma bank about an SBA loan? Here's one Oklahoma business loan, issued by a Mcalester bank, that was approved by the SBA.

Applying for an SBA loan with The Bank, National Association worked out well for our friends at one local firm in Mcalester, Oklahoma. The business was able to get an SBA loan for $86,400. Sweet!

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
MCALESTER, OK 74501

SBA Loan Lender

THE BANK, NATIONAL ASSOCIATION
2ND & CARL ALBERT PKWY
MCALESTER, OK 74501

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

10/9/2003

Loan Approval Gross Amount

$86,400

Loan Approval from the SBA

Of the total $86,400 loan amount, the SBA guaranteed $73,440.

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 10 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees.

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

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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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