Loan Census Banking News and Information
July 19, 2018  
 
 
  Business Loan Information  
 

Tulsa, Oklahoma Bank Loan

 

 
Loan Census SBA Loan Info

Oklahoma Entrepreneur Secures Financing to Buy Tropical Smoothie Franchise

Need money to purchase a Tropical Smoothie franchise? Bancfirst has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Tropical Smoothie franchise is doable. In 2004, Bancfirst issued an SBA franchise loan to an entrepreneur in Tulsa, Oklahoma. Because Tropical Smoothie was registered with the SBA's registry of franchises, this Oklahoma small business loan was issued on an expedited basis.

SBA Loan Borrower

TROPICAL SMOOTHIE CAFE
TULSA, OK 74136

SBA Loan Lender

BANCFIRST
401 S DEWEY AVE
BARTLESVILLE, OK 74003

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

6/15/2004

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Tropical Smoothie franchise. At the time of the loan, the company had 3 employees. The loan application did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

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

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Tropical Smoothie Cafe

Business Incubators

Banks in Bartlesville, Oklahoma

Oklahoma SBA Bank Lenders