Raising Money for Automotive Oil Change and Lubrication Shops

Looking for business loans for automotive oil change and lubrication shops? Try the SBA. This $150,000 automotive oil change and lubrication shops loan was issued by an Ohio bank.

This business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Keybank National Association, out of Cleveland, Ohio. The loan was granted and they received $150,000 to help grow their Broadview Heights, Ohio business.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE OIL CHANGE AND LUBRICATION SHOPS
BROADVIEW HEIGHTS, OH 44147

SBA Loan Lender

KEYBANK NATIONAL ASSOCIATION
127 PUBLIC SQ
CLEVELAND, OH 44114

The lender provided this loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

811191 - Automotive Oil Change and Lubrication Shops

Loan Approval Date

7/26/2001

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $75,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 3 existing jobs.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a company in Broadview Heights OH, you ought to talk with a local Broadview Heights SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Broadview Heights businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Keybank National Association had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Keybank National Association made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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.

Related Links:

Accountant's Role in Securing Financing

SBA Banks in Cleveland, Ohio

Find an SBA Lender in Ohio