Financing for Automotive Oil Change and Lubrication Shops

Looking for loans for automotive oil change and lubrication shops? Talk to a banker who works with the SBA. This $19,000 automotive oil change and lubrication shops loan was issued by a Minnesota bank.

This company 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 $19,000 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 loan for a small business 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

7/16/2003

Loan Approval Gross Amount

$19,000

Loan Approval from the SBA

Of the total $19,000 loan amount, the SBA guaranteed $9,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. 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.

Next Steps for Getting an SBA Loan

If you are raising money in Ely MN, you ought to talk with a local Ely SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Ely businesses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

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Small Bank Loans in Nashwauk, Minnesota

Where to Get an SBA Loan Minnesota