National City Bank Provides SBA Loan to Buy All Tune And Lube Franchise

Borrowing money to purchase an All Tune And Lube franchise? National City Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy an All Tune And Lube franchise? If so, here's a 2001 SBA franchise loan that you should know about. National City Bank was the lender and the entrepreneur was based in Meadville, Pennsylvania.

SBA Loan Borrower

ALL TUNE & LUBE BRAKES AND MOR
MEADVILLE, PA 16335

SBA Loan Lender

NATIONAL CITY BANK
801 STATE ST
ERIE, PA 16501

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

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

2/16/2001

Loan Approval Gross Amount

$301,000

Loan Approval from the SBA

Of the total $301,000 loan amount, the SBA guaranteed $225,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an All Tune And Lube franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower indicated that the loan would help create 4 new jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide money to small business owners for working capital for other expenses.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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