Loan to Buy Valvoline Instant Oil Change Franchise Issued By Stearns Bank

Need a loan 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 2003, Stearns Bank issued an SBA franchise loan to an entrepreneur in Duluth, Minnesota. Because Valvoline Instant Oil Change was registered with the SBA's registry of franchises, this Minnesota small business loan was issued on an expedited basis.

SBA Loan Borrower

VALVOLINE INSTANT OIL CHANGE
DULUTH, MN 55810

SBA Loan Lender

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

This lender provides SBA debt financing as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

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

6/9/2003

Loan Approval Gross Amount

$1,122,300

Loan Approval from the SBA

Of the total $1,122,300 loan amount, the SBA guaranteed $578,321.

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 8 employees. The loan application indicated that the loan would help generate 8 new jobs and retain 8 existing jobs.

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

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer 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.

Related Links:

Valvoline Instant Oil Change

Obtaining Funding - How to Decide How Much to Raise

SBA Approved Banks in Saint Cloud, Minnesota

Getting an SBA Loan in Minnesota