Borrow Money to Buy a Valvoline Instant Oil Change Franchise

Need a loan to buy a Valvoline Instant Oil Change franchise? Ncb, Fsb has a history of making these loans and they are guaranteed by the SBA.

If you live near Somerset, Kentucky 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 Ncb, Fsb. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

VALVOLINE INSTANT OIL CHANGE
SOMERSET, KY 42501

SBA Loan Lender

NCB, FSB
139 S HIGH ST
HILLSBORO, OH 45133

This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

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

11/4/2002

Loan Approval Gross Amount

$354,000

Loan Approval from the SBA

Of the total $354,000 loan amount, the SBA guaranteed $265,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Valvoline Instant Oil Change franchise. At the time of the loan, the company had 14 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $354,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Valvoline Instant Oil Change

The Friends and Family Network

SBA 7A Lenders in Hillsboro, Ohio

Ohio SBA 7A Banks