Loan to Buy Econo Lub N Tune Franchise Issued By Security Service Fcu

Borrowing money to purchase an Econo Lub N Tune franchise? Security Service Fcu has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy an Econo Lub N Tune franchise shouldn't be too tough. In 2006, Security Service Fcu issued an SBA franchise loan to an entrepreneur in San Antonio, Texas. Because Econo Lub N Tune was registered with the SBA's registry of franchises, this Texas small business loan was issued on an expedited basis.

SBA Loan Borrower

ECONO LUBE 'N TUNE & BRAKES
SAN ANTONIO, TX 78240

SBA Loan Lender

SECURITY SERVICE FCU
16211 LA CANTERA PKWY
SAN ANTONIO, TX 78256

The lender provided this loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

811118 - Automotive Mechanical and Electrical Repair and Maintenance

Loan Approval Date

9/29/2006

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $15,000.

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 4 employees. The SBA loan application for the borrower indicated that the loan would help retain 4 existing jobs.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Security Service Fcu 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

Alternative Financing

Small Bank Loans in San Antonio, Texas

Texas SBA 7A Lenders