Banco Popular North America Provides SBA Loan to Buy All Tune And Lube Franchise

Borrowing money to purchase an All Tune And Lube franchise? Banco Popular North America has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy an All Tune And Lube franchise? If so, here's a 2000 SBA franchise loan that you should know about. Banco Popular North America was the lender and the entrepreneur was based in Iselin, New Jersey.

SBA Loan Borrower

ALL TUNE AND LUBE
ISELIN, NJ 08830

SBA Loan Lender

BANCO POPULAR NORTH AMERICA
7 W 51ST ST, BETWEEN 5TH & 6T
NEW YORK CITY, NY 10019

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

7538 - General Automotive Repair Shops

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

5/22/2000

Loan Approval Gross Amount

$485,000

Loan Approval from the SBA

Of the total $485,000 loan amount, the SBA guaranteed $363,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an All Tune And Lube franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower indicated that the borrowed money would help create 4 new jobs.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

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 Banco Popular North America 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.

Related Links:

All Tune and Lube

Obtaining Funding - How to Decide How Much to Raise

SBA Participating Banks in New York City, New York

Browse All Business Loan Sources for New York