Oklahoma Entrepreneur Secures Financing to Buy Cornwell Quality Tool Company,Inc Franchise

Borrowing money to buy a Cornwell Quality Tool Company,Inc franchise? Onb Bank And Trust Company has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Cornwell Quality Tool Company,Inc franchise shouldn't be too tough. In 2000, Onb Bank And Trust Company issued an SBA franchise loan to an entrepreneur in Tulsa, Oklahoma. Because Cornwell Quality Tool Company,Inc was registered with the SBA's registry of franchises, this Oklahoma small business loan was issued on an expedited basis.

SBA Loan Borrower

CORNWELL TOOLS
TULSA, OK 74107

SBA Loan Lender

ONB BANK AND TRUST COMPANY
9004 EAST 61ST ST, SOUTH
TULSA, OK 74133

This lender issued this particular commercial loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5531 - Auto and Home Supply Stores

Loan Approval Date

6/14/2000

Loan Approval Gross Amount

$67,500

Loan Approval from the SBA

Of the total $67,500 loan amount, the SBA guaranteed $54,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Cornwell Quality Tool Company,Inc franchise. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you need money to start a small business or need money for an existing business, an SBA loan can be a great source of funding.

This SBA loan was for $67,500. How would you spend $67,500 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Accountant's Role in Securing Financing

Small Business Banks in Tulsa, Oklahoma

Oklahoma SBA 7A Banks