Oklahoma City, OK Entrepreneur Gets SBA Loan to Buy Burger King Franchise

Borrowing money to purchase a Burger King franchise? First Commercial Bank has a history of making these loans and they are guaranteed by the SBA.

Burger King franchise loans are available to Oklahoma City, Oklahoma entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, First Commercial Bank, based in Edmond, Oklahoma, issued an SBA franchise loan for a Burger King franchise in 2005. We've got all the details on this Oklahoma small business loan.

SBA Loan Borrower

BURGER KING
OKLAHOMA CITY, OK 73116

SBA Loan Lender

FIRST COMMERCIAL BANK
1601 S KELLY
EDMOND, OK 73013

This commercial loan was issued under the SBA's Certified Lenders Program (CLP), which means that the lender has a successful SBA lending history and are well trained in SBA policies and procedures.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

9/20/2005

Loan Approval Gross Amount

$211,000

Loan Approval from the SBA

Of the total $211,000 loan amount, the SBA guaranteed $158,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Burger King franchise. At the time of the loan, the company had 100 employees. This SBA loan request did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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 First Commercial 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.

Related Links:

Burger King Corporation

Obtaining Funding From a Venture Capitalist

SBA 7A Banks for Edmond, Oklahoma Loans

Getting an SBA Loan in Oklahoma