Raising Money for Automotive Oil Change and Lubrication Shops
Looking for bank loans for automotive oil change and lubrication shops? An SBA loan may be just what you've been looking for. This $1,020,000 automotive oil change and lubrication shops loan was issued by a New York bank.
This small firm received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Business Loan Center, LLC, out of New York, New York. The loan was granted and they received $1,020,000 to help grow their Argyle, Texas business.
SBA Loan Borrower
COMPANY TYPE: AUTOMOTIVE OIL CHANGE AND LUBRICATION SHOPS
ARGYLE, TX 76226
SBA Loan Lender
BUSINESS LOAN CENTER, LLC
1633 BROADWAY, 39TH FL
NEW YORK, NY 10019
Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.
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
9/24/2002
Loan Approval Gross Amount
$1,020,000
Loan Approval from the SBA
Of the total $1,020,000 loan amount, the SBA guaranteed $765,000.
More Information on This SBA Loan
The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had 6 employees. The SBA loan documents indicated that the loan would help generate 6 new jobs and retain 6 existing jobs.
Next Steps for Getting an SBA Loan
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Business Loan Center, LLC are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.
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.
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