California Entrepreneur Secures Financing to Buy Phillips 66 Franchise

Need a loan to invest in a Phillips 66 franchise? Community Bank - Cent. Californi has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Santa Cruz, California needed money to invest in a Phillips 66 franchise back in 2002. Community Bank - Cent. Californi issued an SBA franchise loan. Here are the details on this California small business loan.

SBA Loan Borrower

I & E MERINO, INC
SANTA CRUZ, CA 95062

SBA Loan Lender

COMMUNITY BANK - CENT. CALIFORNI
301 MAIN ST
SALINAS, CA 93901

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

447190 - Gasoline Stations

Loan Approval Date

8/20/2002

Loan Approval Gross Amount

$281,000

Loan Approval from the SBA

Of the total $281,000 loan amount, the SBA guaranteed $210,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Phillips 66 franchise. At the time of the loan, the company had 4 employees. The SBA loan documents indicated that the loan would help retain 4 existing jobs.

Next Steps for Getting an SBA Loan

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

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $281,000 loan. Remember, fight for what you want, and it will be yours!

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:

Small Business Loan

Small Bank Loans in Salinas, California

California SBA Bank Lenders