The Bank, National Association Provides SBA Loan to Buy Shake's Frozen Custard Franchise

Need money to buy a Shake's Frozen Custard franchise? The Bank, National Association has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Shake's Frozen Custard franchise shouldn't be overly burdensome. In 2007, The Bank, National Association issued an SBA franchise loan to an entrepreneur in Stillwater, Oklahoma. Because Shake's Frozen Custard was registered with the SBA's registry of franchises, this Oklahoma small business loan was issued on an expedited basis.

SBA Loan Borrower

SHAKE'S FROZEN CUSTARD
STILLWATER, OK 74074

SBA Loan Lender

THE BANK, NATIONAL ASSOCIATION
2ND & CARL ALBERT PKWY
MCALESTER, OK 74501

The lender provided this business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

424820 - Wine and Distilled Alcoholic Beverage Merchant Wholesalers

Loan Approval Date

3/27/2007

Loan Approval Gross Amount

$10,000

Loan Approval from the SBA

Of the total $10,000 loan amount, the SBA guaranteed $5,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Shake's Frozen Custard franchise. At the time of the loan, the company had 9 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.

Next Steps for Getting an SBA Loan

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

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:

Shake's Frozen Custard, Inc

The Friends and Family Network

Best Banks in Mcalester, Oklahoma

SBA Oklahoma Lenders