Citizens Bank Provides SBA Loan to Buy Marathon Oil Company Franchise

Need money to buy a Marathon Oil Company franchise? Citizens Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Bloomfield Hills, Michigan needed money to invest in a Marathon Oil Company franchise back in 2000. Citizens Bank issued an SBA franchise loan. Here are the details on this Michigan small business loan.

SBA Loan Borrower

MARATHON LIVERNOIS, INC.
BLOOMFIELD HILLS, MI 48304

SBA Loan Lender

CITIZENS BANK
2425 E GRAND RIVER AVE
LANSING, MI 48912

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5541 - Gasoline Service Stations

Loan Approval Date

8/22/2000

Loan Approval Gross Amount

$464,750

Loan Approval from the SBA

Of the total $464,750 loan amount, the SBA guaranteed $348,563.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Marathon Oil Company franchise. At the time of the loan, the company had 5 employees. The SBA loan documents 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

SBA loans provide money to small business owners for working capital for other expenses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Citizens Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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