Tulsa, OK Entrepreneur Gets SBA Loan to Buy Precision Tune Franchise

Need a loan to invest in a Precision Tune franchise? First United Bank & Trust has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Precision Tune franchise requires some effort but others before you have been successful. In 2006, First United Bank & Trust issued an SBA franchise loan to an entrepreneur in Tulsa, Oklahoma. Because Precision Tune was registered with the SBA's registry of franchises, this Oklahoma small business loan was issued on an expedited basis.

SBA Loan Borrower

PRECISION TUNE AUTO CARE
TULSA, OK 74145

SBA Loan Lender

FIRST UNITED BANK & TRUST
1400 W MAIN ST
DURANT, OK 74701

This lender issued this SBA loan under the SBA 7A lending 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.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

2/27/2006

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

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

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into First United Bank & Trust and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Precision Tune Auto Care

Obtaining Funding - How to Borrow Money

SBA 7A Lenders in Durant, Oklahoma

SBA Oklahoma Banks