Bryant, AR Entrepreneur Gets SBA Loan to Buy Phillips 66 Franchise

Borrowing money to purchase a Phillips 66 franchise? Arkansas Capital Corporation has a history of making these loans and they are guaranteed by the SBA.

If you live near Bryant, Arkansas and are interested in buying a Phillips 66 franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2000 by Arkansas Capital Corporation. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

GLENN'S PHILLIP 66
BRYANT, AR 72022

SBA Loan Lender

ARKANSAS CAPITAL CORPORATION
200 S. COMMERCE ST., SUITE 40
LITTLE ROCK, AR 72201

This commercial loan was issued by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a comprehensive analysis of the loan application and, in return, SBA provides a quick answer on whether the loan qualifies.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5541 - Gasoline Service Stations

NAICS Code

447190 - Gasoline Stations

Loan Approval Date

9/28/2000

Loan Approval Gross Amount

$522,000

Loan Approval from the SBA

Of the total $522,000 loan amount, the SBA guaranteed $391,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Phillips 66 franchise. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

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

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Arkansas Capital Corporation 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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