Financing for Full-Service Restaurants
Looking for commercial loans for full-service restaurants? An SBA loan may be just what you've been looking for. This $93,000 full-service restaurants loan was issued by an Oklahoma bank.
Getting a small business loan in Pawhuska, Oklahoma was important for this business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from First National Bank In Pawhuska, operating out of Pawhuska, Oklahoma. Here are the details on this Oklahoma small business loan.
SBA Loan Borrower
COMPANY TYPE: FULL-SERVICE RESTAURANTS
PAWHUSKA, OK 74056
SBA Loan Lender
FIRST NATIONAL BANK IN PAWHUSKA
100 W MAIN
PAWHUSKA, OK 74056
This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
722110 - Full-Service Restaurants
Loan Approval Date
3/18/2004
Loan Approval Gross Amount
$93,000
Loan Approval from the SBA
Of the total $93,000 loan amount, the SBA guaranteed $79,050.
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 25 employees. The loan application did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees.
Next Steps for Getting an SBA Loan
SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.
There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.
Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!
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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