The Mission Bank Provides SBA Loan to Buy Econo Lub N Tune Franchise

Need money to invest in an Econo Lub N Tune franchise? The Mission Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Overland Park, Kansas needed money to invest in an Econo Lub N Tune franchise back in 2003. The Mission Bank issued an SBA franchise loan. Here are the details on this Kansas small business loan.

SBA Loan Borrower

ECONO LUBE N'TUBE
OVERLAND PARK, KS 66210

SBA Loan Lender

THE MISSION BANK
5201 JOHNSON DR
MISSION, KS 66205

This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program involves 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.

NAICS Code

811191 - Automotive Oil Change and Lubrication Shops

Loan Approval Date

7/1/2003

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $51,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy an Econo Lub N Tune franchise. At the time of the loan, the company had 11 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need money to start a small business or already have a business and need money to expand, an SBA loan can be a great way to raise money

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like The Mission Bank 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:

Econo Lube N Tune

Angel Investors

Banks in Mission, Kansas

Kansas SBA Banks