Business Loans for Automotive Oil Change and Lubrication Shops

Looking for business loans for automotive oil change and lubrication shops? Talk to a banker who works with the SBA. This $59,600 automotive oil change and lubrication shops loan was issued by a Minnesota bank.

This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Castle Rock Bank, out of Castle Rock, Minnesota. The loan was granted and they received $59,600 to help grow their Farmington, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE OIL CHANGE AND LUBRICATION SHOPS
FARMINGTON, MN 55024

SBA Loan Lender

CASTLE ROCK BANK
27925 DANVILLE AVE
CASTLE ROCK, MN 55010

This lender processed this debt financing under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

11/8/2004

Loan Approval Gross Amount

$59,600

Loan Approval from the SBA

Of the total $59,600 loan amount, the SBA guaranteed $29,800.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 3 existing jobs.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Obtaining Funding - How to Decide How Much to Raise

Banks in Castle Rock, Minnesota

Where to Get an SBA Loan Minnesota