Colorado Entrepreneur Secures Financing to Buy Grease Monkey Franchise

Need money to invest in a Grease Monkey franchise? Wachovia Sba Lending, Inc. has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Grease Monkey franchise shouldn't be overly burdensome. In 2002, Wachovia Sba Lending, Inc. issued an SBA franchise loan to an entrepreneur in Steamboat Springs, Colorado. Because Grease Monkey was registered with the SBA's registry of franchises, this Colorado small business loan was issued on an expedited basis.

SBA Loan Borrower

GREASE MONKEY & BIG O TIRES
STEAMBOAT SPRINGS, CO 80477

SBA Loan Lender

WACHOVIA SBA LENDING, INC.
1620 E. ROSEVILLE PKWY, STE 1
ROSEVILLE, CA 95661

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

811191 - Automotive Oil Change and Lubrication Shops

Loan Approval Date

9/28/2002

Loan Approval Gross Amount

$1,266,000

Loan Approval from the SBA

Of the total $1,266,000 loan amount, the SBA guaranteed $949,500.

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 22 employees. The SBA loan application for the borrower indicated that the loan would help generate 7 new jobs and retain 15 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

We can help you find the best banks for small businesses in Steamboat Springs or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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