U.S. Bank National Association Provides SBA Loan to Buy Unocal 76 Franchise

Borrowing money to buy an Unocal 76 franchise? U.S. Bank National Association has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy an Unocal 76 franchise may simply require a phone call to a local SBA banker. In 2001, U.S. Bank National Association issued an SBA franchise loan to an entrepreneur in Huntington Beach, California. Because Unocal 76 was registered with the SBA's registry of franchises, this California small business loan was issued on an expedited basis.

SBA Loan Borrower

FIVE POINT 76 SERVICE CENTER
HUNTINGTON BEACH, CA 92648

SBA Loan Lender

U.S. BANK NATIONAL ASSOCIATION
425 WALNUT ST
CINCINNATI, OH 45202

This SBA bank loan was issued under the SBA's Certified Lenders Program (CLP), which means that this lending institution has a successful SBA lending background and a deep knowledge SBA loan requirements.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5541 - Gasoline Service Stations

NAICS Code

447190 - Gasoline Stations

Loan Approval Date

1/12/2001

Loan Approval Gross Amount

$645,000

Loan Approval from the SBA

Of the total $645,000 loan amount, the SBA guaranteed $453,796.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy an Unocal 76 franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

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.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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