Oklahoma Entrepreneur Secures Financing to Buy Waffle House Franchise

Borrowing money to buy a Waffle House franchise? Bank Of America has a history of making these loans and they are guaranteed by the SBA.

Waffle House franchise loans are available to Tulsa, Oklahoma entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Bank Of America, based in Charlotte, North Carolina, issued an SBA franchise loan for a Waffle House franchise in 2003. We've got all the details on this Oklahoma small business loan.

SBA Loan Borrower

ZLK & ASSOCIATES INC
TULSA, OK 74133

SBA Loan Lender

BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255

The lender provided this business 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

7/10/2003

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $20,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Waffle House franchise. At the time of the loan, the company had 60 employees. The loan application indicated that the loan would help generate 1 new job and retain 61 existing jobs.

Next Steps for Getting an SBA Loan

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

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Bank Of America and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

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Small Bank Loans in Charlotte, North Carolina

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