Borrow Money to Buy a Valvoline Instant Oil Change Franchise

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

Getting money to buy a Valvoline Instant Oil Change franchise may simply require a phone call to a local SBA banker. In 2005, Stearns Bank issued an SBA franchise loan to an entrepreneur in Charlotte, North Carolina. Because Valvoline Instant Oil Change was registered with the SBA's registry of franchises, this North Carolina small business loan was issued on an expedited basis.

SBA Loan Borrower

VALVOLINE
CHARLOTTE, NC 28211

SBA Loan Lender

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

This SBA loan was issued under the SBA's Certified Lenders Program (CLP), which means that this lending institution has a successful SBA lending history and a thorough understanding of SBA loan requirements.

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

8/26/2005

Loan Approval Gross Amount

$190,500

Loan Approval from the SBA

Of the total $190,500 loan amount, the SBA guaranteed $142,875.

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. This SBA loan request did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need money to start business in Charlotte NC, you ought to talk with a local Charlotte SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Charlotte businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Stearns Bank 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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