Borrowing Money for Automotive Oil Change and Lubrication Shops

With these loans for automotive oil change and lubrication shops, the SBA guarantees the lender that the loan will be repaid. This automotive oil change and lubrication shops loan for $96,000 was given to a Pennsylvania entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Meadville, Pennsylvania was able to borrow $96,000 from National City Bank. The SBA made the loan possible by guaranteeing $72,000 of this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE OIL CHANGE AND LUBRICATION SHOPS
MEADVILLE, PA 16335

SBA Loan Lender

NATIONAL CITY BANK
801 STATE ST
ERIE, PA 16501

This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

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

2/15/2001

Loan Approval Gross Amount

$96,000

Loan Approval from the SBA

Of the total $96,000 loan amount, the SBA guaranteed $72,000.

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 4 employees. The loan application indicated that the funding would help generate 4 new jobs.

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.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

VC Firms on Twitter

Best Erie, Pennsylvania Banks for Small Business

Pennsylvania SBA 7A Lenders