Loans for Automotive Oil Change and Lubrication Shops

Looking for loans for automotive oil change and lubrication shops? The SBA may be the answer. This $150,000 automotive oil change and lubrication shops loan was issued by a Pennsylvania bank.

This small firm knew how to go about getting a business bank loan. Based in Grove City, Pennsylvania, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was National City Bank, based in Erie, Pennsylvania.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE OIL CHANGE AND LUBRICATION SHOPS
GROVE CITY, PA 16127

SBA Loan Lender

NATIONAL CITY BANK
801 STATE ST
ERIE, PA 16501

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

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

4/9/2001

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $112,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The loan application indicated that the funding would help create 5 new jobs.

Start the Process for Getting an SBA Loan Today!

If you need business start up money in Grove City PA, you ought to talk with a local Grove City SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Grove City businesses.

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.

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