Arlington, TX Entrepreneur Gets SBA Loan to Buy Econo Lub N Tune Franchise

Need a loan to buy an Econo Lub N Tune franchise? Community Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Arlington, Texas needed money to invest in an Econo Lub N Tune franchise back in 2003. Community Bank issued an SBA franchise loan. Here are the details on this Texas small business loan.

SBA Loan Borrower

ECONOLUBE N TUBE
ARLINGTON, TX 76013

SBA Loan Lender

COMMUNITY BANK
500 S MORGAN ST
GRANBURY, TX 76048

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

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

5/12/2003

Loan Approval Gross Amount

$71,800

Loan Approval from the SBA

Of the total $71,800 loan amount, the SBA guaranteed $61,030.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy an Econo Lub N Tune franchise. At the time of the loan, the company had 7 employees. This SBA loan request indicated that the loan would help retain 7 existing jobs.

Getting an SBA Loan For Your 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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Community Bank 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 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:

Econo Lube N Tune

Getting a Small Business Loan

SBA 7A Banks in Granbury, Texas

Find an SBA Lender in Texas