Placentia, CA Entrepreneur Gets SBA Loan to Buy Econo Lub N Tune Franchise

Borrowing money to buy an Econo Lub N Tune franchise? Hanmi Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Placentia, California needed money to invest in an Econo Lub N Tune franchise back in 2004. Hanmi Bank issued an SBA franchise loan. Here are the details on this California small business loan.

SBA Loan Borrower

ECONO LUBE "N" TUNE #154
PLACENTIA, CA 92870

SBA Loan Lender

HANMI BANK
3660 WILSHIRE BLVD, STE 103
LOS ANGELES, CA 90010

This lender processed this SBA loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

811191 - Automotive Oil Change and Lubrication Shops

Loan Approval Date

6/10/2004

Loan Approval Gross Amount

$130,000

Loan Approval from the SBA

Of the total $130,000 loan amount, the SBA guaranteed $65,000.

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 7 employees. This SBA loan request indicated that the loan would help retain 7 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

If you are raising money in Placentia CA, you ought to talk with a local Placentia SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Placentia businesses.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Hanmi Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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.

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