Alabama Entrepreneur Secures Financing to Buy All Tune And Lube Franchise
Borrowing money to invest in an All Tune And Lube franchise? Regions Bank has a history of making these loans and they are guaranteed by the SBA.
Getting money to buy an All Tune And Lube franchise requires some effort but others before you have been successful. In 2001, Regions Bank issued an SBA franchise loan to an entrepreneur in Fairhope, Alabama. Because All Tune And Lube was registered with the SBA's registry of franchises, this Alabama small business loan was issued on an expedited basis.
SBA Loan Borrower
ALL TUNE AND LUBE
FAIRHOPE, AL 36532
SBA Loan Lender
1900 5TH AVE NORTH
BIRMINGHAM, AL 35203
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 requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.
SBA Loan Program Type
This loan was issued as a general business loan.
7549 - Automotive Services
811191 - Automotive Oil Change and Lubrication Shops
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $55,000 loan amount, the SBA guaranteed $46,750.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was used to buy an All Tune And Lube franchise. At the time of the loan, the company
had 3 employees. The SBA loan application for the borrower did not indicate that the company promised to use the funding to hire new employees or retain any existing employees.
Next Steps for Getting an SBA Loan
SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.
The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Regions Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.
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.
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