Financing 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 $134,400 was given to an Oklahoma entrepreneur in 2000.

This company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Mcclain Bank, out of Purcell, Oklahoma. The loan was granted and they received $134,400 to help grow their Norman, Oklahoma business.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
NORMAN, OK 73072

SBA Loan Lender

MCCLAIN BANK
131 W MAIN ST
PURCELL, OK 73080

This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

8/29/2000

Loan Approval Gross Amount

$134,400

Loan Approval from the SBA

Of the total $134,400 loan amount, the SBA guaranteed $100,800.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 10 employees. The loan application did not indicate that the company planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $134,400 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

SBIR Funding

SBA Participating Banks in Purcell, Oklahoma

Oklahoma SBA 7A Lenders