Beloit, WI Entrepreneur Gets SBA Loan to Buy Mobil Oil stations Franchise

Borrowing money to buy a Mobil Oil stations franchise? American Enterprise Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Mobil Oil stations franchise? If so, here's a 2006 SBA franchise loan that you should know about. American Enterprise Bank was the lender and the entrepreneur was based in Beloit, Wisconsin.

SBA Loan Borrower

SAMRA & SINGH, INC.
BELOIT, WI 53511

SBA Loan Lender

AMERICAN ENTERPRISE BANK
600 N BUFFALO GROVE RD
BUFFALO GROVE, IL 60089

This lender provides SBA loan for small businesses as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

9/22/2006

Loan Approval Gross Amount

$1,206,700

Loan Approval from the SBA

Of the total $1,206,700 loan amount, the SBA guaranteed $905,025.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Mobil Oil stations franchise. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower indicated that the funding would help generate 5 new jobs.

Getting an SBA Loan For Your Business

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

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into American Enterprise Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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