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April 18, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > San Antonio, Business Loans > Security Service Fcu San Antonio Business Loans > Econo Lube'N Tune & Brakes Loan | ||||
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Security Service Fcu SBA Franchise Loans
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San Antonio, TX Entrepreneur Gets SBA Loan to Buy Econo Lub N Tune FranchiseBorrowing money to purchase an Econo Lub N Tune franchise? Security Service Fcu has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in San Antonio, Texas needed money to invest in an Econo Lub N Tune franchise back in 2006. Security Service Fcu issued an SBA franchise loan. Here are the details on this Texas small business loan. SBA Loan Borrower ECONO LUBE'N TUNE & BRAKES SBA Loan Lender SECURITY SERVICE FCU This lender issued this bank loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811191 - Automotive Oil Change and Lubrication Shops Loan Approval Date 1/23/2006 Loan Approval Gross Amount $88,000 Loan Approval from the SBA Of the total $88,000 loan amount, the SBA guaranteed $74,800. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy an Econo Lub N Tune franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $88,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Obtaining Funding - How to Decide How Much to Raise SBA 7A Lenders in San Antonio, Texas
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