Southgate, MI Entrepreneur Gets SBA Loan to Buy Valvoline Instant Oil Change Franchise

Borrowing money to purchase a Valvoline Instant Oil Change franchise? Ncb Financial Corporation has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Valvoline Instant Oil Change franchise may simply require a phone call to a local SBA banker. In 2003, Ncb Financial Corporation issued an SBA franchise loan to an entrepreneur in Southgate, Michigan. Because Valvoline Instant Oil Change was registered with the SBA's registry of franchises, this Michigan small business loan was issued on an expedited basis.

SBA Loan Borrower

VALVOLINE INSTANT OIL CHANGE
SOUTHGATE, MI 48195

SBA Loan Lender

NCB FINANCIAL CORPORATION
601 PENNSYLVANIA AVE NW
WASHINGTON, DC 20004

This business 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.

NAICS Code

811191 - Automotive Oil Change and Lubrication Shops

Loan Approval Date

2/4/2003

Loan Approval Gross Amount

$370,000

Loan Approval from the SBA

Of the total $370,000 loan amount, the SBA guaranteed $277,500.

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 10 employees. The loan application did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Ncb Financial Corporation 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:

Valvoline Instant Oil Change

Obtaining Funding - How to Decide How Much to Raise

Small Business Banks in Washington, District of Columbia

SBA Participating Banks in District of Columbia