Edmonds, WA Entrepreneur Gets SBA Loan to Buy Grease Monkey Franchise

Need money to invest in a Grease Monkey franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA.

Grease Monkey franchise loans are available to Edmonds, Washington entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Wells Fargo Bank, based in San Jose, California, issued an SBA franchise loan for a Grease Monkey franchise in 2003. We've got all the details on this Washington small business loan.

SBA Loan Borrower

GREASE MONKEY
EDMONDS, WA 98020

SBA Loan Lender

WELLS FARGO BANK
121 PARK CENTER PLZ
SAN JOSE, CA 95113

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

7/18/2003

Loan Approval Gross Amount

$525,000

Loan Approval from the SBA

Of the total $525,000 loan amount, the SBA guaranteed $393,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Grease Monkey franchise. At the time of the loan, the company had 9 employees. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 13 existing jobs.

Getting an SBA Loan For Your Business

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Wells Fargo Bank 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:

Grease Monkey

Direct Public Offerings

Small Business Banks in San Jose, California

California SBA 7A Lenders