SBA Loans for Automotive Oil Change and Lubrication Shops

With these SBA 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 $800,000 was given to a Texas entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Midland, Texas was able to borrow $800,000 from Business Loan Center, LLC. The SBA made the loan possible by guaranteeing $600,000 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE SERVICES
MIDLAND, TX 79703

SBA Loan Lender

BUSINESS LOAN CENTER, LLC
1633 BROADWAY, 39TH FL
NEW YORK, NY 10019

This loan for a small business was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7549 - Automotive Services

NAICS Code

811191 - Automotive Oil Change and Lubrication Shops

Loan Approval Date

8/7/2002

Loan Approval Gross Amount

$800,000

Loan Approval from the SBA

Of the total $800,000 loan amount, the SBA guaranteed $600,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The loan application did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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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