Stearns Bank Provides SBA Loan to Buy Valvoline Instant Oil Change Franchise

Borrowing money to buy a Valvoline Instant Oil Change franchise? Stearns Bank has a history of making these loans and they are guaranteed by the SBA.

Valvoline Instant Oil Change franchise loans are available to Batavia, Illinois entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Stearns Bank, based in Saint Cloud, Minnesota, issued an SBA franchise loan for a Valvoline Instant Oil Change franchise in 2005. We've got all the details on this Illinois small business loan.

SBA Loan Borrower

VALVOLINE INSTANT OIL CHANGE
BATAVIA, IL 60510

SBA Loan Lender

STEARNS BANK
4191 2ND ST SOUTH
SAINT CLOUD, MN 56301

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

811198 - Automotive Repair and Maintenance

Loan Approval Date

6/10/2005

Loan Approval Gross Amount

$1,315,000

Loan Approval from the SBA

Of the total $1,315,000 loan amount, the SBA guaranteed $894,200.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Valvoline Instant Oil Change franchise. At the time of the loan, the company had 10 employees. The SBA loan documents indicated that the loan would help generate 10 new jobs and retain 10 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

If you are raising money in Batavia IL, you ought to talk with a local Batavia SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Batavia businesses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $1,315,000 loan. Remember, fight for what you want, and it will be yours!

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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