Borrowing Money for Petroleum Lubricating Oil and Grease Manufacturing

Looking for loans for petroleum lubricating oil and grease manufacturing? An SBA loan may be just what you've been looking for. This $30,000 petroleum lubricating oil and grease manufacturing loan was issued by an Illinois bank.

This small firm knew how to go about getting a business bank loan. Based in Lake In The Hill, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Crystal Lake Bank & Trust N, based in Crystal Lake, Illinois.

SBA Loan Borrower

COMPANY TYPE: LUBRICATING OILS AND GREASES
LAKE IN THE HILL, IL 60156

SBA Loan Lender

CRYSTAL LAKE BANK & TRUST N
70 N WILLIAMS ST
CRYSTAL LAKE, IL 60014

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2992 - Lubricating Oils and Greases

NAICS Code

324191 - Petroleum Lubricating Oil and Grease Manufacturing

Loan Approval Date

6/2/2003

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $25,500.

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 2 employees. This SBA loan request did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

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.

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