Tuttle, OK Entrepreneur Gets SBA Loan to Buy Godfather's Pizza Franchise

Need money to buy a Godfather's Pizza franchise? Washita State Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Tuttle, Oklahoma needed money to invest in a Godfather's Pizza franchise back in 2004. Washita State Bank issued an SBA franchise loan. Here are the details on this Oklahoma small business loan.

SBA Loan Borrower

MJ FOODS
TUTTLE, OK 73089

SBA Loan Lender

WASHITA STATE BANK
701 HWY 44 SOUTH
BURNS FLAT, OK 73624

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA bank loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

4/27/2004

Loan Approval Gross Amount

$204,000

Loan Approval from the SBA

Of the total $204,000 loan amount, the SBA guaranteed $153,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Godfather's Pizza franchise. At the time of the loan, the company had 21 employees. This SBA loan request did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Many small businesses receive loans backed by the U.S. Small Business Administration.

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:

Godfather's Pizza

Attracting Investors

Banks in Burns Flat, Oklahoma

Oklahoma SBA Bank Lenders