California Entrepreneur Secures Financing to Buy Speedee Oil Change & Tune-Up Franchise

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

Speedee Oil Change & Tune-Up franchise loans are available to Milpitas, California entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Heritage Bank Of Commerce, based in San Jose, California, issued an SBA franchise loan for a Speedee Oil Change & Tune-Up franchise in 2002. We've got all the details on this California small business loan.

SBA Loan Borrower

MARLONG SPEEDEE OIL CHANGE & T
MILPITAS, CA 95035

SBA Loan Lender

HERITAGE BANK OF COMMERCE
150 ALMADEN BLVD
SAN JOSE, CA 95113

This lender provides SBA guaranteed bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

1/22/2002

Loan Approval Gross Amount

$330,000

Loan Approval from the SBA

Of the total $330,000 loan amount, the SBA guaranteed $247,500.

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 14 employees. The SBA loan application for the borrower indicated that the loan would help retain 12 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.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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