Tulsa, OK Entrepreneur Gets SBA Loan to Buy Cornwell Quality Tool Company,Inc Franchise

Need a loan to buy a Cornwell Quality Tool Company,Inc franchise? Onb Bank And Trust Company has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Cornwell Quality Tool Company,Inc franchise shouldn't be overly burdensome. In 2001, Onb Bank And Trust Company issued an SBA franchise loan to an entrepreneur in Tulsa, Oklahoma. Because Cornwell Quality Tool Company,Inc was registered with the SBA's registry of franchises, this Oklahoma small business loan was issued on an expedited basis.

SBA Loan Borrower

CORNWELL TOOLS
12134 E. 23RD STREET
TULSA, OK 74129

SBA Loan Lender

ONB BANK AND TRUST COMPANY
9004 EAST 61ST ST, SOUTH
TULSA, OK 74133

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

454390 - Other Direct Selling Establishments

Loan Approval Date

3/28/2001

Loan Approval Gross Amount

$76,500

Loan Approval from the SBA

Of the total $76,500 loan amount, the SBA guaranteed $65,025.

More Information on This SBA Loan

The borrower, Cornwell Tools, borrowed this money for a new business. This loan was used to buy a Cornwell Quality Tool Company,Inc franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the business 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?

SBA loans provide money to small business owners for working capital for other expenses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Onb Bank And Trust Company that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

About This SBA Loan Information:

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

Related Links:

Small Business Credit Cards

SBA Banks in Tulsa, Oklahoma

SBA Lenders in Oklahoma

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