Colorado Entrepreneur Secures Financing to Buy Grease Monkey Franchise

Borrowing money to buy a Grease Monkey franchise? Bank Of The West has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Grease Monkey franchise requires some effort but others before you have been successful. In 2004, Bank Of The West issued an SBA franchise loan to an entrepreneur in Parker, Colorado. Because Grease Monkey was registered with the SBA's registry of franchises, this Colorado small business loan was issued on an expedited basis.

SBA Loan Borrower

GREASE MONKEY OF STROH RANCH
PARKER, CO 80134

SBA Loan Lender

BANK OF THE WEST
520 MAIN AVE
FARGO, ND 58124

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

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

8/11/2004

Loan Approval Gross Amount

$84,000

Loan Approval from the SBA

Of the total $84,000 loan amount, the SBA guaranteed $71,400.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Grease Monkey franchise. At the time of the loan, the company had 8 employees. The SBA loan documents did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

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 Bank Of The West 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:

Grease Monkey

Advice on Getting a Small Business Loan

SBA Participating Banks in Fargo, North Dakota

Browse All Business Loan Sources for North Dakota