Financing 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 $1,485,000 was given to a Texas entrepreneur in 2003.

This small firm knew how to go about getting a business bank loan. Based in Plano, Texas, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Compass Bank, based in Birmingham, Alabama.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE OIL CHANGE AND LUBRICATION SHOPS
PLANO, TX 75093

SBA Loan Lender

COMPASS BANK
15 S 20TH ST
BIRMINGHAM, AL 35233

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

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

1/6/2003

Loan Approval Gross Amount

$1,485,000

Loan Approval from the SBA

Of the total $1,485,000 loan amount, the SBA guaranteed $999,999.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 indicated that the loan would help retain 7 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans provide money to small business owners for working capital for other expenses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Compass Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Determining Proper Capital Structure for a Business

Find an SBA Lender in Birmingham, Alabama

SBA Alabama Banks