Lima, OH Entrepreneur Gets SBA Loan to Buy Valvoline Instant Oil Change Franchise

Borrowing money to purchase a Valvoline Instant Oil Change franchise? First Fed. Bank - Midwest has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Valvoline Instant Oil Change franchise requires some effort but others before you have been successful. In 2007, First Fed. Bank - Midwest issued an SBA franchise loan to an entrepreneur in Lima, Ohio. Because Valvoline Instant Oil Change was registered with the SBA's registry of franchises, this Ohio small business loan was issued on an expedited basis.

SBA Loan Borrower

VALVOLINE INSTANT OIL CHANGE
LIMA, OH 45807

SBA Loan Lender

FIRST FED. BANK - MIDWEST
601 CLINTON ST
DEFIANCE, OH 43512

This lender issued this bank loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811198 - Automotive Repair and Maintenance

Loan Approval Date

6/20/2007

Loan Approval Gross Amount

$626,000

Loan Approval from the SBA

Of the total $626,000 loan amount, the SBA guaranteed $469,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Valvoline Instant Oil Change 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.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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:

Valvoline Instant Oil Change

Debt Financing

SBA 7A Lenders in Defiance, Ohio

SBA Participating Banks in Ohio