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

Borrowing money to invest in a Grease Monkey franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Grease Monkey franchise may simply require a phone call to a local SBA banker. In 2004, Cit Small Business Lending Corp issued an SBA franchise loan to an entrepreneur in Thornton, 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
THORNTON, CO 80229

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039

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

7/23/2004

Loan Approval Gross Amount

$604,000

Loan Approval from the SBA

Of the total $604,000 loan amount, the SBA guaranteed $453,000.

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 45 employees. The SBA loan application for the borrower indicated that the loan would help generate 15 new jobs and retain 30 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.

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 Cit Small Business Lending Corp 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

Direct Public Offerings

Find an SBA Lender in Livingston, New Jersey

New Jersey SBA Banks