Oklahoma Entrepreneur Secures Financing to Buy Pass Your Plate Franchise

Need a loan to buy a Pass Your Plate franchise? Red Crown Fcu has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Owasso, Oklahoma needed money to invest in a Pass Your Plate franchise back in 2005. Red Crown Fcu issued an SBA franchise loan. Here are the details on this Oklahoma small business loan.

SBA Loan Borrower

PASS YOUR PLATE
HIGHWAY 169
OWASSO, OK 74055

SBA Loan Lender

RED CROWN FCU
5001 E 91ST ST
TULSA, OK 74137

This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

11/7/2005

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $102,000.

More Information on This SBA Loan

The borrower, Pass Your Plate, borrowed this money for a new business. This loan was used to buy a Pass Your Plate franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees. This loan was paid in full, and was closed out on 10/4/2007.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like Pass Your Plate did when it applied for and received this $120,000 loan. Remember, you control your own destiny.

About This SBA Loan Information:

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

Related Links:

Financing Your Business

SBA Banks in Tulsa, Oklahoma

Oklahoma SBA 7A Banks

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