California Entrepreneur Secures Financing to Buy Union 76 Oil Franchise

Borrowing money to invest in an Union 76 Oil franchise? Sterling Savings Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy an Union 76 Oil franchise may simply require a phone call to a local SBA banker. In 2003, Sterling Savings Bank issued an SBA franchise loan to an entrepreneur in Alameda, California. Because Union 76 Oil was registered with the SBA's registry of franchises, this California small business loan was issued on an expedited basis.

SBA Loan Borrower

M POWER CO INC
ALAMEDA, CA 95401

SBA Loan Lender

STERLING SAVINGS BANK
801 FOURTH ST
SANTA ROSA, CA 95404

This lender provides SBA commercial loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

447190 - Gasoline Stations

Loan Approval Date

12/30/2003

Loan Approval Gross Amount

$774,000

Loan Approval from the SBA

Of the total $774,000 loan amount, the SBA guaranteed $580,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy an Union 76 Oil franchise. At the time of the loan, the company had 4 employees. The loan application indicated that the loan would help retain 4 existing jobs.

Next Steps for Getting an SBA Loan

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

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you need money to buy a business? 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 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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