Oklahoma Entrepreneur Secures Financing to Buy Econo Lub N Tune Franchise

Borrowing money to purchase an Econo Lub N Tune franchise? First Commercial Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Edmond, Oklahoma and are interested in buying an Econo Lub N Tune franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2000 by First Commercial Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

ECONO LUBE N TUNE & BRAKES
EDMOND, OK 73013

SBA Loan Lender

FIRST COMMERCIAL BANK
7308 NW EXPRESSWAY
OKLAHOMA CITY, OK 73132

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7538 - General Automotive Repair Shops

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

4/28/2000

Loan Approval Gross Amount

$75,200

Loan Approval from the SBA

Of the total $75,200 loan amount, the SBA guaranteed $60,160.

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 10 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First Commercial Bank and they will explain how you can get an SBA loan for your company.

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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