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In August 2007, Tommy contacted the Del Mar College Small Business Development Center for help structuring a business plan and loan proposal. SBDC business advisor Michael North assisted the partnership in preparing a detailed business plan with cash flow projections and financial statements. Once the business plan and financials were complete, the Northcutts and Davis were able to secure loans from Texas Champion Bank and Texas Certified Development Company under the SBA 504 loan program. According to Tommy, "With the help Mike North from the SBDC gave us on our first car wash, we knew when it came time to expand we would seek his assistance again. In August, I came to Mike with a partial business plan, partial marketing plan, construction budget and our financial projections. Mike reviewed and helped organize all these different documents into one single document styled Business Plan and Loan Proposal. We made the recommended changes and our lenders, Texas Champion Bank and the SBA, took that document and used it as the basis for the loans required to purchase and construct our second location -- Mr. Fancy Pants' Express Wash. Mike North was instrumental in the development of the required business plan and loan proposal, which was complicated and time consuming. Thank you for all that you do."
Mr. Fancy Pants' Express Wash will be located at 5329 S. Staples Street between Banuelos Tires and Golden Kitchen, and will mirror the 60's surfer theme of the original Mr. Fancy Pants' Car Wash. The new type car wash, referred to as an express exterior car wash or express car wash, is designed to clean the exterior of a vehicle in lightening speed (vehicles and their riders are propelled along a conveyor belt through a 110' tunnel, resulting in an impeccable car wash in less than 2 minutes). Fourteen self-serve vacuums and sundry car wash vending products will enable customers to treat the interior of their vehicles. Mr. Fancy Pants' Express Wash -- the most fun your car will ever have -- is scheduled to open in Spring 2008. |