Loan to Buy Phillips 66 Franchise Issued By Washington Mutual Bank

Borrowing money to buy a Phillips 66 franchise? Washington Mutual Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Houston, Texas needed money to invest in a Phillips 66 franchise back in 2000. Washington Mutual Bank issued an SBA franchise loan. Here are the details on this Texas small business loan.

SBA Loan Borrower

ETHAN'S CORNER MART
HOUSTON, TX 77036

SBA Loan Lender

WASHINGTON MUTUAL BANK
2273 N GREEN VALLEY PKWY, STE
HENDERSON, NV 89014

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.

SIC Code

5411 - Grocery Stores

Loan Approval Date

7/13/2000

Loan Approval Gross Amount

$672,400

Loan Approval from the SBA

Of the total $672,400 loan amount, the SBA guaranteed $504,300.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Phillips 66 franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the loan would help retain 2 existing jobs.

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

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Washington Mutual Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Washington Mutual Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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