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November 14, 2024 |
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| Home > Small Business Lenders by State > Oklahoma Business Loan Sources > Oklahoma City, Business Loans > Midfirst Bank Oklahoma City Business Loans > Heavenly Ham Loan | ||||
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Tips for Getting a Franchise Loan
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Borrow Money to Buy a Heavenly Hams FranchiseBorrowing money to buy a Heavenly Hams franchise? Midfirst Bank has a history of making these loans and they are guaranteed by the SBA. If you live near Oklahoma City, Oklahoma and are interested in buying a Heavenly Hams franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2001 by Midfirst Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase. SBA Loan Borrower HEAVENLY HAM SBA Loan Lender MIDFIRST BANK The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5421 - Meat and Fish Market NAICS Code 445120 - Convenience Stores Loan Approval Date 8/1/2001 Loan Approval Gross Amount $175,000 Loan Approval from the SBA Of the total $175,000 loan amount, the SBA guaranteed $131,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Heavenly Hams franchise. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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 Midfirst 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: Obtaining Funding - How to Borrow Money SBA Participating Banks in Oklahoma City, Oklahoma
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