Modesto, CA Entrepreneur Gets SBA Loan to Buy Jiffy Lube Franchise

Need money to invest in a Jiffy Lube franchise? Citibank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Modesto, California needed money to invest in a Jiffy Lube franchise back in 2000. Citibank issued an SBA franchise loan. Here are the details on this California small business loan.

SBA Loan Borrower

JIFFY LUBE
MODESTO, CA 95356

SBA Loan Lender

CITIBANK
ONE SANSOME ST
SAN FRANCISCO, CA 94104

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

NAICS Code

811191 - Automotive Oil Change and Lubrication Shops

Loan Approval Date

10/3/2000

Loan Approval Gross Amount

$317,000

Loan Approval from the SBA

Of the total $317,000 loan amount, the SBA guaranteed $237,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Jiffy Lube franchise. At the time of the loan, the company had 10 employees. This SBA loan request indicated that the loan would help retain 10 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.

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 Citibank 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.

Related Links:

Jiffy Lube International, Inc.

Business Incubators

Small Bank Loans in San Francisco, California

California SBA 7A Lenders