Texas Entrepreneur Secures Financing to Buy All Tune And Lube Franchise

Need money to purchase an All Tune And Lube franchise? First International Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in North Richland Hills, Texas needed money to invest in an All Tune And Lube franchise back in 2004. First International Bank issued an SBA franchise loan. Here are the details on this Texas small business loan.

SBA Loan Borrower

ALL TUNE&LUBE OF N RICHLAND HI
NORTH RICHLAND HILLS, TX 76180

SBA Loan Lender

FIRST INTERNATIONAL BANK
1912 AVE K, STE 100
PLANO, TX 75074

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA small business loans to American small businesses.

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

9/18/2004

Loan Approval Gross Amount

$574,800

Loan Approval from the SBA

Of the total $574,800 loan amount, the SBA guaranteed $431,100.

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 did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My 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 important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First International Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First International 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.

Related Links:

All Tune and Lube

Microlending as a Small Business Funding Source

Where to Get an SBA Loan in Plano, Texas

Texas SBA 7A Lenders