Statesville, NC Entrepreneur Gets SBA Loan to Buy Valvoline Instant Oil Change Franchise

Need money to invest in a Valvoline Instant Oil Change franchise? Stearns Bank Holdingford National As has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Valvoline Instant Oil Change franchise? If so, here's a 2005 SBA franchise loan that you should know about. Stearns Bank Holdingford National As was the lender and the entrepreneur was based in Statesville, North Carolina.

SBA Loan Borrower

VALVOLINE INSTANT OIL CHANGE
STATESVILLE, NC 28625

SBA Loan Lender

STEARNS BANK HOLDINGFORD NATIONAL AS
580 MAIN ST
HOLDINGFORD, MN 56340

When it made this small business loan, this bank was part of the SBA's Certified Lenders Program (CLP). This program aims to provide expeditious service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

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

5/12/2005

Loan Approval Gross Amount

$178,600

Loan Approval from the SBA

Of the total $178,600 loan amount, the SBA guaranteed $133,950.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Valvoline Instant Oil Change franchise. At the time of the loan, the company had 9 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.

Great, But How Can I Get an SBA Loan for My Business?

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $178,600 loan. Remember, where there is a will, there is a way!

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.

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