First Commercial Bank Provides SBA Loan to Buy Burger King Franchise

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

If you live near Shawnee, Oklahoma and are interested in buying a Burger King franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2007 by First Commercial Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

O&M RESTAURANT GROUP INC
SHAWNEE, OK 74804

SBA Loan Lender

FIRST COMMERCIAL BANK
1601 S KELLY
EDMOND, OK 73013

This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

2/12/2007

Loan Approval Gross Amount

$76,000

Loan Approval from the SBA

Of the total $76,000 loan amount, the SBA guaranteed $64,600.

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 154 employees. This SBA loan request indicated that the loan would help create 80 new jobs.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First Commercial Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First Commercial Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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

Business Line of Credit

Small Bank Loans in Edmond, Oklahoma

Oklahoma SBA 7A Lenders