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November 15, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > North Olmsted, Business Loans > Ups Capital Business Credit North Olmsted Business Loans > Automotive Oil Change And Lubrication Shops Loan | ||||
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Raising Money in North Ridgeville, Ohio With SBA Loans
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Financing for Automotive Oil Change and Lubrication ShopsWith 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 $650,000 was given to an Ohio entrepreneur in 2000. This small firm knew how to go about getting a business bank loan. Based in North Ridgeville, Ohio, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Ups Capital Business Credit, based in North Olmsted, Ohio. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE OIL CHANGE AND LUBRICATION SHOPS SBA Loan Lender UPS CAPITAL BUSINESS CREDIT When it made this small business loan, this lending institution participated in the SBA's Certified Lenders Program (CLP). This program was created to offer expeditious service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises 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 10/16/2000 Loan Approval Gross Amount $650,000 Loan Approval from the SBA Of the total $650,000 loan amount, the SBA guaranteed $487,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! Every year, the SBA guarantees over $10 billion for loans just like this one. 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 Ups Capital Business Credit 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. Related Links: Best North Olmsted, Ohio Banks for Small Business
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