Borrow Money to Buy a Valvoline Instant Oil Change Franchise

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

Valvoline Instant Oil Change franchise loans are available to Dallas, Texas entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Comerica Bank, based in Houston, Texas, issued an SBA franchise loan for a Valvoline Instant Oil Change franchise in 2003. We've got all the details on this Texas small business loan.

SBA Loan Borrower

VALVOLINE INSTANT OIL CHANGE
DALLAS, TX 75252

SBA Loan Lender

COMERICA BANK
1900 W LOOP SOUTH
HOUSTON, TX 77027

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

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

6/25/2003

Loan Approval Gross Amount

$970,500

Loan Approval from the SBA

Of the total $970,500 loan amount, the SBA guaranteed $727,875.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Valvoline Instant Oil Change franchise. At the time of the loan, the company had only one employee. The loan application indicated that the funding would help generate 10 new jobs.

Next Steps for Getting an SBA Loan

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Valvoline Instant Oil Change

Obtaining Funding - Getting Venture Capital

Small Business Banks in Houston, Texas

Getting an SBA Loan in Texas