Getting an SBA Loan for Drinking Places

With these commercial loans for drinking places, the SBA guarantees the lender that the loan will be repaid. This drinking places loan for $72,000 was given to an Oklahoma entrepreneur in 2003.

This business knew how to go about getting a business bank loan. Based in Oklahoma City, Oklahoma, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Union Bank, based in Oklahoma City, Oklahoma.

SBA Loan Borrower

COMPANY TYPE: DRINKING PLACES
OKLAHOMA CITY, OK 73107

SBA Loan Lender

UNION BANK
4921 N MAY AVE
OKLAHOMA CITY, OK 73112

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722410 - Drinking Places

Loan Approval Date

8/20/2003

Loan Approval Gross Amount

$72,000

Loan Approval from the SBA

Of the total $72,000 loan amount, the SBA guaranteed $61,200.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 12 employees. The loan application did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? 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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