California Entrepreneur Secures Financing to Buy Mobil Oil stations Franchise

Need money to purchase a Mobil Oil stations franchise? United Commercial Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Menifee, California and are interested in buying a Mobil Oil stations franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2003 by United Commercial Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

E & T COM. ENTERPRISES CORP.
MENIFEE, CA 92586

SBA Loan Lender

UNITED COMMERCIAL BANK
555 MONTGOMERY ST
SAN FRANCISCO, CA 94111

This lender issued this loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

1/7/2003

Loan Approval Gross Amount

$1,350,000

Loan Approval from the SBA

Of the total $1,350,000 loan amount, the SBA guaranteed $189,945.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Mobil Oil stations franchise. At the time of the loan, the company had 20 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like United Commercial Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Determining Proper Capital Structure for a Business

SBA 7A Lenders in San Francisco, California

California SBA 7A Lenders