Automotive Oil Change and Lubrication Shops Commercial Loans

Looking for commercial loans for automotive oil change and lubrication shops? Try the SBA. This $390,337 automotive oil change and lubrication shops loan was issued by a Texas bank.

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

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE SERVICES
TEXARKANA, TX 75503

SBA Loan Lender

CENTURY BANK
2900 ST MICHAEL DR
TEXARKANA, TX 75503

This lender issued this loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

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

10/22/2003

Loan Approval Gross Amount

$390,337

Loan Approval from the SBA

Of the total $390,337 loan amount, the SBA guaranteed $292,752.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds 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.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Realistic Debt Financing Options

Where to Get an SBA Loan in Texarkana, Texas

SBA Texas Banks