1st Centennial Bank Provides SBA Loan to Buy Speedee Oil Change & Tune-Up Franchise

Borrowing money to buy a Speedee Oil Change & Tune-Up franchise? 1st Centennial Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Speedee Oil Change & Tune-Up franchise? If so, here's a 2005 SBA franchise loan that you should know about. 1st Centennial Bank was the lender and the entrepreneur was based in Castro Valley, California.

SBA Loan Borrower

SPEEDEE OIL CHANGER AND TUNE U
CASTRO VALLEY, CA 94546

SBA Loan Lender

1ST CENTENNIAL BANK
218 E STATE ST
REDLANDS, CA 92373

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

811198 - Automotive Repair and Maintenance

Loan Approval Date

8/9/2005

Loan Approval Gross Amount

$408,700

Loan Approval from the SBA

Of the total $408,700 loan amount, the SBA guaranteed $306,525.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Speedee Oil Change & Tune-Up franchise. At the time of the loan, the company had 6 employees. The SBA loan application for the borrower indicated that the loan would help retain 5 existing jobs.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This SBA loan was for $408,700. How would you spend $408,700 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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