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Speedee Midas Auto Service Center

Hollister, CA · Automotive Oil Change and Lubrication Shops · NAICS 811191

Speedee Midas Auto Service Center, located in Hollister, CA, operates in the automotive oil change and lubrication shops industry. The company was financed with an SBA 7(a) loan for a change of ownership in the amount of $3,568,000, approved by Live Oak Banking Company on February 26, 2025. The business is listed as a franchise under the Midas/SpeeDee Oil Change & Auto Service brand.

SBA 7(a) loan, change of ownership, approved Feb 26, 2025

$3,568,000 approvedLender: Live Oak Banking Company10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$3,568,000
SBA-guaranteed amount
$2,676,000 (75% of the approval)
Lender
Live Oak Banking Company, Wilmington, NC
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
8.95%, variable
Term
10 years (120 months)
Estimated maturity
February 26, 2035 (estimated, approval date plus term)
Estimated monthly payment
$45,101 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Mar 4, 2025
Loan status
Status not reported (SBA exemption)
Jobs supported
13
Business type
Corporation
NAICS
811191, Automotive Oil Change and Lubrication Shops
Franchise
Midas/SpeeDee Oil Change & Auto Service
Project location
San Benito County, CA
SBA district office
Fresno District Office
Congressional district
CA-19
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 93% of acquisition loans in Automotive Oil Change and Lubrication Shops on this site.
  • Average acquisition loan in Automotive Oil Change and Lubrication Shops: $1,684,836.
  • Average acquisition loan in California: $1,688,228.

Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.

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Same industry in California