Borrow Money to Buy a Popeye's Famous Fried Chicken Franchise

Need money to buy a Popeye's Famous Fried Chicken franchise? Arvest Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Norman, Oklahoma needed money to invest in a Popeye's Famous Fried Chicken franchise back in 2002. Arvest Bank issued an SBA franchise loan. Here are the details on this Oklahoma small business loan.

SBA Loan Borrower

POPEYE'S CHICKEN & BISCUITS
NORMAN, OK 73069

SBA Loan Lender

ARVEST BANK
200 E MAIN ST
NORMAN, OK 73069

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

6/10/2002

Loan Approval Gross Amount

$604,057

Loan Approval from the SBA

Of the total $604,057 loan amount, the SBA guaranteed $453,043.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Popeye's Famous Fried Chicken franchise. At the time of the loan, the company had 30 employees. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds 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 Norman OK, you ought to talk with a local Norman SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Norman businesses.

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 Arvest Bank 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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