Borrow Money to Buy an Amoco gas Station Franchise

Need a loan to purchase an Amoco gas Station franchise? Citizens Bank has a history of making these loans and they are guaranteed by the SBA.

Amoco gas Station franchise loans are available to Belleville, Michigan entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Citizens Bank, based in Flint, Michigan, issued an SBA franchise loan for an Amoco gas Station franchise in 2002. We've got all the details on this Michigan small business loan.

SBA Loan Borrower

BELLEVILLE AMOCO, INC.
BELLEVILLE, MI 48111

SBA Loan Lender

CITIZENS BANK
328 S SAGINAW ST
FLINT, MI 48502

This business loan was issued under the SBA's Certified Lenders Program (CLP), which means that this lending institution has a successful SBA lending history and a thorough understanding of SBA loan requirements.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

8/29/2002

Loan Approval Gross Amount

$690,000

Loan Approval from the SBA

Of the total $690,000 loan amount, the SBA guaranteed $517,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy an Amoco gas Station franchise. At the time of the loan, the company had 7 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the money to add employees or retain any existing employees.

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

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Obtaining Funding - Getting Venture Capital

SBA Banks in Flint, Michigan

Find an SBA Lender in Michigan