Midwest City, OK Entrepreneur Gets SBA Loan to Buy Jersey Mike's deli Restaurant Franchise

Need money to buy a Jersey Mike's deli Restaurant franchise? Bancfirst has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Jersey Mike's deli Restaurant franchise? If so, here's a 2007 SBA franchise loan that you should know about. Bancfirst was the lender and the entrepreneur was based in Midwest City, Oklahoma.

SBA Loan Borrower

JERSEY MIKE'S SUBS
MIDWEST CITY, OK 73110

SBA Loan Lender

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

This lender provides SBA commercial loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

4/20/2007

Loan Approval Gross Amount

$180,000

Loan Approval from the SBA

Of the total $180,000 loan amount, the SBA guaranteed $135,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Jersey Mike's deli Restaurant franchise. At the time of the loan, the company had 7 employees. The SBA loan documents indicated that the funding would help generate 7 new jobs.

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

Every year, the SBA guarantees over $10 billion for loans just like this one.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

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