Commercial Loans for Limited-Service Restaurants

Looking for commercial loans for limited-service restaurants? The SBA may be the answer. This $205,000 limited-service restaurants loan was issued by an Oklahoma bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Tulsa, Oklahoma was able to borrow $205,000 from Bancfirst. The SBA made the loan possible by guaranteeing $153,750 of this Oklahoma small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
TULSA, OK 74113

SBA Loan Lender

BANCFIRST
101 N BROADWAY, STE 1050
OKLAHOMA CITY, OK 73102

This small business loan was issued under the SBA's Certified Lenders Program (CLP), which means that this lending institution has a successful SBA lending history and a thorough understanding of SBA lending rules and regulations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

9/16/2003

Loan Approval Gross Amount

$205,000

Loan Approval from the SBA

Of the total $205,000 loan amount, the SBA guaranteed $153,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 32 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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.

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:

SBIR Funding

Where to Get an SBA Loan in Oklahoma City, Oklahoma

SBA Oklahoma Banks