Honolulu, HI Entrepreneur Gets SBA Loan to Buy Union 76 Oil Franchise

Need a loan to purchase an Union 76 Oil franchise? Hawaii National Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy an Union 76 Oil franchise requires some effort but others before you have been successful. In 2001, Hawaii National Bank issued an SBA franchise loan to an entrepreneur in Honolulu, Hawaii. Because Union 76 Oil was registered with the SBA's registry of franchises, this Hawaii small business loan was issued on an expedited basis.

SBA Loan Borrower

A & T, INC. DBA KOKO MARINA 76
HONOLULU, HI 96825

SBA Loan Lender

HAWAII NATIONAL BANK
45 N KING ST
HONOLULU, HI 96817

This SBA business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

447190 - Gasoline Stations

Loan Approval Date

4/9/2001

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $262,500.

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 2 employees. This SBA loan request did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

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 Hawaii National 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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