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April 29, 2024 |
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| Home > Small Business Lenders by State > Oklahoma Business Loan Sources > Oklahoma City, Business Loans > Bancfirst Oklahoma City Business Loans > Popeyes Chicken & Biscuits Loan | ||||
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How to Get SBA Loans in Broken Arrow, Oklahoma
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Broken Arrow, OK Entrepreneur Gets SBA Loan to Buy Popeye's Famous Fried Chicken FranchiseBorrowing money to purchase a Popeye's Famous Fried Chicken franchise? Bancfirst has a history of making these loans and they are guaranteed by the SBA. If you live near Broken Arrow, Oklahoma and are interested in buying a Popeye's Famous Fried Chicken franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2003 by Bancfirst. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase. SBA Loan Borrower POPEYES CHICKEN & BISCUITS SBA Loan Lender BANCFIRST This loan was provided by a lender with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan guaranty requests to the SBA get more expeditious service from the SBA on their loan applications. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 8/27/2003 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $187,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Popeye's Famous Fried Chicken franchise. At the time of the loan, the company had 45 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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: Small Bank Loans in Oklahoma City, Oklahoma
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