SBA Loans for Automotive Oil Change and Lubrication Shops

Looking for SBA loans for automotive oil change and lubrication shops? An SBA loan may be just what you've been looking for. This $37,400 automotive oil change and lubrication shops loan was issued by a Minnesota bank.

This small business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with American Bank Of The North, out of Nashwauk, Minnesota. The loan was granted and they received $37,400 to help grow their Ely, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE OIL CHANGE AND LUBRICATION SHOPS
ELY, MN 55731

SBA Loan Lender

AMERICAN BANK OF THE NORTH
117 CENTRAL AVE
NASHWAUK, MN 55769

This SBA business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

1/2/2003

Loan Approval Gross Amount

$37,400

Loan Approval from the SBA

Of the total $37,400 loan amount, the SBA guaranteed $18,700.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The SBA loan documents indicated that the loan would help retain 5 existing jobs.

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

SBA loans provide money to small business owners for working capital for other expenses.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Determining Proper Capital Structure for a Business

Find an SBA Lender in Nashwauk, Minnesota

SBA Minnesota Lenders