Massachusetts Entrepreneur Secures Financing to Buy Sunoco Service Station Franchise

Need a loan to buy a Sunoco Service Station franchise? Rockland Trust Company has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Sunoco Service Station franchise shouldn't be too tough. In 2003, Rockland Trust Company issued an SBA franchise loan to an entrepreneur in Bridgewater (census Name For B, Massachusetts. Because Sunoco Service Station was registered with the SBA's registry of franchises, this Massachusetts small business loan was issued on an expedited basis.

SBA Loan Borrower

SUNOCO
BRIDGEWATER (CENSUS NAME FOR B, MA 02333

SBA Loan Lender

ROCKLAND TRUST COMPANY
288 UNION ST
ROCKLAND, MA 02370

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

5/22/2003

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $63,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Sunoco Service Station franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the loan would help retain 2 existing jobs.

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

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Sunoco Service Station

Microlending as a Small Business Funding Source

SBA 7A Banks for Rockland, Massachusetts Loans

Massachusetts SBA 7A Lenders