Automotive Oil Change and Lubrication Shops Loans

Looking for loans for automotive oil change and lubrication shops? Try the SBA. This $329,500 automotive oil change and lubrication shops loan was issued by a Mississippi bank.

Getting a small business loan in Madison, Mississippi was important for this growing firm back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Trustmark National Bank, operating out of Brandon, Mississippi. Here are the details on this Mississippi small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE OIL CHANGE AND LUBRICATION SHOPS
MADISON, MS 39110

SBA Loan Lender

TRUSTMARK NATIONAL BANK
106 GOVERNMENT ST
BRANDON, MS 39042

This commercial loan was underwritten by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a thorough analysis of the loan application and, in return, SBA provides a fast loan decision.

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

6/10/2004

Loan Approval Gross Amount

$329,500

Loan Approval from the SBA

Of the total $329,500 loan amount, the SBA guaranteed $247,125.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 6 employees. This SBA loan request did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Trustmark National Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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