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November 24, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Minneapolis, Business Loans > Wells Fargo Bank Minneapolis Business Loans > Lake Street Valvoline Instant Loan | ||||
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Minnesota Small Business Funding for Franchises
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Loan to Buy Valvoline Instant Oil Change Franchise Issued By Wells Fargo BankNeed a loan to invest in a Valvoline Instant Oil Change franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA. If you live near Minneapolis, Minnesota and are interested in buying a Valvoline Instant Oil Change franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2002 by Wells Fargo Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase. SBA Loan Borrower LAKE STREET VALVOLINE INSTANT SBA Loan Lender WELLS FARGO BANK 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 1/17/2002 Loan Approval Gross Amount $125,000 Loan Approval from the SBA Of the total $125,000 loan amount, the SBA guaranteed $93,750. 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 10 employees. The loan application indicated that the loan would help generate 5 new jobs and retain 5 existing jobs. Start the Process for Getting an SBA Loan Today! SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Wells Fargo Bank and they will explain how you can get an SBA loan for your company. 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: SBA 7A Lenders in Minneapolis, Minnesota
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