Commercial Loans for Full-Service Restaurants

Looking for commercial loans for full-service restaurants? An SBA loan may be just what you've been looking for. This $177,500 full-service restaurants loan was issued by an Oklahoma bank.

Henry D. Burrow, Jr. & Melanie A. Spicer-B received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Arvest Bank, out of Tulsa, Oklahoma. The loan was granted and they received $177,500 to help grow their Miami, Oklahoma business.

SBA Loan Borrower

Henry D. Burrow, Jr. & Melanie A. Spicer-B
1220 N. Main
Miami, OK 74354

SBA Loan Lender

ARVEST BANK
3409 S PEORIA AVE, STE 1
TULSA, OK 74105

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

6/15/2006

Loan Approval Gross Amount

$177,500

Loan Approval from the SBA

Of the total $177,500 loan amount, the SBA guaranteed $133,125.

More Information on This SBA Loan

The borrower, Henry D. Burrow, Jr. & Melanie A. Spicer-B, borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 75 new jobs.

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Henry D. Burrow, Jr. & Melanie A. Spicer-B got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's SBA loan database.

Related Links:

The Art of Bootstrapping

Best Banks in Tulsa, Oklahoma

SBA Participating Banks in Oklahoma

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