Borrow Money to Buy a Speedee Oil Change & Tune-Up Franchise
Need money to purchase a Speedee Oil Change & Tune-Up franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.
An entrepreneur in Metairie, Louisiana needed money to invest in a Speedee Oil Change & Tune-Up franchise back in 2001. Comerica Bank issued an SBA franchise loan. Here are the details on this Louisiana small business loan.
SBA Loan Borrower
SPEEDEE OIL CHANGE & TUNE UP
METAIRIE, LA 70003
SBA Loan Lender
COMERICA BANK
1900 W LOOP SOUTH
HOUSTON, TX 77027
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
811191 - Automotive Oil Change and Lubrication Shops
Loan Approval Date
8/20/2001
Loan Approval Gross Amount
$161,000
Loan Approval from the SBA
Of the total $161,000 loan amount, the SBA guaranteed $120,750.
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 3 employees. The loan application indicated that the loan would help generate 1 new job and retain 3 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.
Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Comerica Bank and they will explain how you can get an SBA loan for your company.
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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