Borrowing Money for Automotive Oil Change and Lubrication Shops

Looking for bank loans for automotive oil change and lubrication shops? Talk to a banker who works with the SBA. This $986,000 automotive oil change and lubrication shops loan was issued by an Arizona bank.

Getting a small business loan in Silver City, New Mexico was important for this company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Wells Fargo Bank, operating out of Phoenix, Arizona. Here are the details on this New Mexico small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE OIL CHANGE AND LUBRICATION SHOPS
SILVER CITY, NM 88061

SBA Loan Lender

WELLS FARGO BANK
100 W WASHINGTON ST
PHOENIX, AZ 85003

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

12/12/2003

Loan Approval Gross Amount

$986,000

Loan Approval from the SBA

Of the total $986,000 loan amount, the SBA guaranteed $739,500.

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 9 employees. This SBA loan request indicated that the loan would help retain 7 existing jobs.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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:

Angel Investors

SBA Participating Banks in Phoenix, Arizona

SBA Lenders in Arizona