Florida Entrepreneur Secures Financing to Buy Jiffy Lube Franchise

Borrowing money to purchase a Jiffy Lube franchise? Bank Of America has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Jiffy Lube franchise may simply require a phone call to a local SBA banker. In 2000, Bank Of America issued an SBA franchise loan to an entrepreneur in Lutz, Florida. Because Jiffy Lube was registered with the SBA's registry of franchises, this Florida small business loan was issued on an expedited basis.

SBA Loan Borrower

JIFFY LUBE
LUTZ, FL 33549

SBA Loan Lender

BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255

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.

SIC Code

7549 - Automotive Services

Loan Approval Date

5/31/2000

Loan Approval Gross Amount

$264,000

Loan Approval from the SBA

Of the total $264,000 loan amount, the SBA guaranteed $198,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Jiffy Lube franchise. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help generate 1 new job and retain 5 existing jobs.

Next Steps for Getting an SBA Loan

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

This SBA loan was for $264,000. How would you spend $264,000 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.

Related Links:

Jiffy Lube International, Inc.

Equity Financing

Best Banks in Charlotte, North Carolina

North Carolina SBA Banks