Automotive Oil Change and Lubrication Shops Business Loans

With these business loans for automotive oil change and lubrication shops, the SBA guarantees the lender that the loan will be repaid. This automotive oil change and lubrication shops loan for $149,000 was given to a Kentucky entrepreneur in 2003.

This small business knew how to go about getting a business bank loan. Based in Glasgow, Kentucky, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was South Cent. Bank - Barren County, based in Glasgow, Kentucky.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SHOPS
GLASGOW, KY 42141

SBA Loan Lender

SOUTH CENT. BANK - BARREN COUNTY
208 S BROADWAY
GLASGOW, KY 42141

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7538 - General Automotive Repair Shops

NAICS Code

811191 - Automotive Oil Change and Lubrication Shops

Loan Approval Date

12/9/2003

Loan Approval Gross Amount

$149,000

Loan Approval from the SBA

Of the total $149,000 loan amount, the SBA guaranteed $126,650.

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 3 employees. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a company in Glasgow KY, you ought to talk with a local Glasgow SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Glasgow businesses.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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