Ponca City, OK Entrepreneur Gets SBA Loan to Buy Kentucky Fried Chicken Franchise

Need a loan to buy a Kentucky Fried Chicken franchise? Rcb Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Kentucky Fried Chicken franchise? If so, here's a 2000 SBA franchise loan that you should know about. Rcb Bank was the lender and the entrepreneur was based in Ponca City, Oklahoma.

SBA Loan Borrower

KENTUCKY FRIED CHICKEN/TACO BE
PONCA CITY, OK 74604

SBA Loan Lender

RCB BANK
1223 E HIGHLAND
PONCA CITY, OK 74601

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

Loan Approval Date

4/25/2000

Loan Approval Gross Amount

$710,000

Loan Approval from the SBA

Of the total $710,000 loan amount, the SBA guaranteed $532,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Kentucky Fried Chicken franchise. At the time of the loan, the company had 35 employees. This SBA loan request indicated that the loan would help generate 5 new jobs and retain 35 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

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.

Related Links:

KFC Corporation

Direct Public Offerings

SBA 7A Banks for Ponca City, Oklahoma Loans

Getting an SBA Loan in Oklahoma