Northglenn, CO Entrepreneur Gets SBA Loan to Buy Grease Monkey Franchise

Need money to purchase a Grease Monkey franchise? Guaranty Bank & Trust has a history of making these loans and they are guaranteed by the SBA.

If you live near Northglenn, Colorado and are interested in buying a Grease Monkey franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2002 by Guaranty Bank & Trust. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

GREASE MONKEY
NORTHGLENN, CO 80234

SBA Loan Lender

GUARANTY BANK & TRUST
1331 17TH ST
DENVER, CO 80202

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

9/24/2002

Loan Approval Gross Amount

$900,000

Loan Approval from the SBA

Of the total $900,000 loan amount, the SBA guaranteed $675,000.

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 24 employees. The SBA loan documents indicated that the loan would help generate 44 new jobs and retain 44 existing jobs.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $900,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Grease Monkey

VC Firms on Twitter

SBA 7A Banks for Denver, Colorado Loans

Colorado SBA 7A Banks