Bristol, CT Entrepreneur Gets SBA Loan to Buy Mobil Oil stations Franchise

Need a loan to invest in a Mobil Oil stations franchise? Farmington Savings Bank has a history of making these loans and they are guaranteed by the SBA.

Mobil Oil stations franchise loans are available to Bristol, Connecticut entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Farmington Savings Bank, based in Farmington, Connecticut, issued an SBA franchise loan for a Mobil Oil stations franchise in 2002. We've got all the details on this Connecticut small business loan.

SBA Loan Borrower

PETROLEUM PARTNERS, INC.
BRISTOL, CT 06010

SBA Loan Lender

FARMINGTON SAVINGS BANK
32 MAIN ST
FARMINGTON, CT 06032

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

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

12/20/2002

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $225,000.

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 6 employees. The SBA loan documents did not indicate that the company planned to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great way to raise money

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Farmington Savings Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Farmington Savings Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Small Business Credit Cards

Good Banks for Small Business in Farmington, Connecticut

Getting a Business Loan in Connecticut