Small Business Loans for Full-Service Restaurants

Looking for small business loans for full-service restaurants? The SBA may be the answer. This $20,800 full-service restaurants loan was issued by an Oklahoma bank.

This company received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Arkansas Valley State Bank, out of Broken Arrow, Oklahoma. The loan was granted and they received $20,800 to help grow their Tulsa, Oklahoma business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
TULSA, OK 74137

SBA Loan Lender

ARKANSAS VALLEY STATE BANK
302 S MAIN
BROKEN ARROW, OK 74012

This lender issued this commercial loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started 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

7/30/2007

Loan Approval Gross Amount

$20,800

Loan Approval from the SBA

Of the total $20,800 loan amount, the SBA guaranteed $17,680.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help generate 12 new jobs and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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.

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