Where to Get Capital for Limited-Service Restaurants

With these small business loans for limited-service restaurants, the SBA guarantees the lender that the loan will be repaid. This limited-service restaurants loan for $80,000 was given to an Oklahoma entrepreneur in 2006.

This company knew how to go about getting a business bank loan. Based in Tonkawa, Oklahoma, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was First National Bank - Oklahoma, based in Ponca City, Oklahoma.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
TONKAWA, OK 74653

SBA Loan Lender

FIRST NATIONAL BANK - OKLAHOMA
1324 E GRAND AVE
PONCA CITY, OK 74601

The lender provided this SBA 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

722211 - Limited-Service Restaurants

Loan Approval Date

5/22/2006

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $40,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 7 employees. The loan application indicated that the loan would help retain 7 existing jobs.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First National Bank - Oklahoma had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First National Bank - Oklahoma 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:

Advice on Getting a Small Business Loan

Small Bank Loans in Ponca City, Oklahoma

SBA Lenders in Oklahoma