Cherokee, Oklahoma Bank Lends Money to Full-Service Restaurants Company in Tonkawa, Oklahoma

Get business loans from a Cherokee, Oklahoma bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too.

Farmers Exchange Bank is a Cherokee, Oklahoma small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to an Oklahoma company.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
TONKAWA, OK 74653

SBA Loan Lender

FARMERS EXCHANGE BANK
419 S GRAND
CHEROKEE, OK 73728

This lender issued this bank loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

4/17/2002

Loan Approval Gross Amount

$242,632

Loan Approval from the SBA

Of the total $242,632 loan amount, the SBA guaranteed $181,974.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 8 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

We can help you find the best banks for small businesses in Tonkawa or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Small Business Credit Cards

Small Bank Loans in Cherokee, Oklahoma

Oklahoma SBA 7A Banks