MK Automotive (OTCBB:MKAU) announced today that The Small Business Administration (the "SBA") has approved the Company's Mike's Master Mechanics Franchise Agreement -- making it eligible for SBA financing for company-owned and franchised locations. Mike Murphy, President and CEO of MK Automotive, remarked, "It's no secret that small business financing has dried up the last several years. SBA approval means securing attractive financing for opening or acquiring Mike's Master Mechanics locations is much more likely. With SBA approval and our established relationship with Wells Fargo Bank, the loan process for our franchisees is now significantly easier and faster. We already have a number of potential SBA-financed deals in our pipeline that couldn't have taken place otherwise. In today's economy, SBA approval is key for our nationwide expansion plans and we're pleased to announce it's now in place."Founded in 2002 with headquarters in Las Vegas, the Company recently launched its national expansion plans by franchising under the name Mike's Master Mechanics. MK Automotive's mission is to do it differently, do it better, to revolutionize the auto repair industry. MK Automotive employs independently certified professional technicians, and strives to operate as social capitalists, treating everyone fairly and nicely: customers, suppliers, employees, franchisees, shareholders, everyone. It is the Company's firm belief that long-term shareholder value is built on a combination of superior service and a strong ethical center.
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