Richardson, TX Entrepreneur Gets SBA Loan to Buy Mobil Oil stations Franchise

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

Mobil Oil stations franchise loans are available to Richardson, Texas entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, United Central Bank, based in Garland, Texas, issued an SBA franchise loan for a Mobil Oil stations franchise in 2001. We've got all the details on this Texas small business loan.

SBA Loan Borrower

SPRING VALLEY MOBIL/NARMIN ENT
RICHARDSON, TX 75080

SBA Loan Lender

UNITED CENTRAL BANK
4555 W WALNUT ST
GARLAND, TX 75042

This lender issued this small business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 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.

SIC Code

5411 - Grocery Stores

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

8/8/2001

Loan Approval Gross Amount

$360,000

Loan Approval from the SBA

Of the total $360,000 loan amount, the SBA guaranteed $270,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Mobil Oil stations franchise. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. United Central Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, United Central 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:

Obtaining Funding - How to Decide How Much to Raise

Banks in Garland, Texas

Getting an SBA Loan in Texas