Automotive Oil Change and Lubrication Shops Small Business Loans
With these small business 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 $2,000,000 was given to an Oklahoma entrepreneur in 2002.
This company knew how to go about getting a business bank loan. Based in Oklahoma City, Oklahoma, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Compass Bank, based in Birmingham, Alabama.
SBA Loan Borrower
COMPANY TYPE: AUTOMOTIVE SERVICES
OKLAHOMA CITY, OK 73100
SBA Loan Lender
COMPASS BANK
15 S 20TH ST
BIRMINGHAM, AL 35233
The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide bank loans to American small businesses.
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
11/1/2002
Loan Approval Gross Amount
$2,000,000
Loan Approval from the SBA
Of the total $2,000,000 loan amount, the SBA guaranteed $1,000,000.
More Information on This SBA Loan
The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had 7 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees.
Start the Process for Getting an SBA Loan Today!
SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.
This SBA loan was for $2,000,000. How would you spend $2,000,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.
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:
The Art of Bootstrapping
Small Bank Loans in Birmingham, Alabama
SBA Alabama Banks