Georgia Entrepreneur Secures Financing to Buy Texaco Express Lube & Star Lube Franchise

Borrowing money to invest in a Texaco Express Lube & Star Lube franchise? National Bank - Walton Cnty has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Texaco Express Lube & Star Lube franchise? If so, here's a 2000 SBA franchise loan that you should know about. National Bank - Walton Cnty was the lender and the entrepreneur was based in Loganville, Georgia.

SBA Loan Borrower

TEXACO XPRESS LUBE
LOGANVILLE, GA 30052

SBA Loan Lender

NATIONAL BANK - WALTON CNTY
4577 HWY 78 EAST
LOGANVILLE, GA 30249

This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7549 - Automotive Services

Loan Approval Date

2/10/2000

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $40,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Texaco Express Lube & Star Lube franchise. At the time of the loan, the company had 3 employees. The loan application did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like National Bank - Walton Cnty that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Role of Business Plan When Raising Money

SBA Participating Banks in Loganville, Georgia

Georgia SBA 7A Lenders