Loan to Buy Econo Lub N Tune Franchise Issued By 1st Centennial Bank

Borrowing money to buy an Econo Lub N Tune franchise? 1st Centennial Bank has a history of making these loans and they are guaranteed by the SBA.

Econo Lub N Tune franchise loans are available to Antioch, California entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, 1st Centennial Bank, based in Redlands, California, issued an SBA franchise loan for an Econo Lub N Tune franchise in 2005. We've got all the details on this California small business loan.

SBA Loan Borrower

ECONO LUBE & TUNE & BRAKES
ANTIOCH, CA 94531

SBA Loan Lender

1ST CENTENNIAL BANK
218 E STATE ST
REDLANDS, CA 92373

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

10/7/2005

Loan Approval Gross Amount

$686,000

Loan Approval from the SBA

Of the total $686,000 loan amount, the SBA guaranteed $514,500.

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 6 employees. The loan application indicated that the loan would help retain 5 existing jobs.

Next Steps for Getting an SBA Loan

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

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into 1st Centennial Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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