Loan to Buy Exxon Franchise Issued By Td Banknorth

Need a loan to invest in an Exxon franchise? Td Banknorth has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy an Exxon franchise is doable. In 2003, Td Banknorth issued an SBA franchise loan to an entrepreneur in Berlin, Connecticut. Because Exxon was registered with the SBA's registry of franchises, this Connecticut small business loan was issued on an expedited basis.

SBA Loan Borrower

SIMEONE ENTERPRISES, LLC
BERLIN, CT 06037

SBA Loan Lender

TD BANKNORTH
1 PORTLAND SQ
PORTLAND, ME 04101

This commercial loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

9/19/2003

Loan Approval Gross Amount

$125,000

Loan Approval from the SBA

Of the total $125,000 loan amount, the SBA guaranteed $62,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an Exxon franchise. At the time of the loan, the company had 8 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Td Banknorth so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

ExxonMobil Corporation

Small Business Credit Cards

Best Banks for Small Business in Portland, Maine

SBA Lenders in Maine