Detroit, MI Entrepreneur Gets SBA Loan to Buy Sunoco Service Station Franchise

Need money to buy a Sunoco Service Station franchise? Mercantile Bank Of Michigan 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 overly burdensome. In 2006, Mercantile Bank Of Michigan issued an SBA franchise loan to an entrepreneur in Detroit, Michigan. Because Sunoco Service Station was registered with the SBA's registry of franchises, this Michigan small business loan was issued on an expedited basis.

SBA Loan Borrower

"SUNOCO"
DETROIT, MI 48234

SBA Loan Lender

MERCANTILE BANK OF MICHIGAN
310 LEONARD ST NW
GRAND RAPIDS, MI 49504

This SBA bank 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

3/3/2006

Loan Approval Gross Amount

$155,000

Loan Approval from the SBA

Of the total $155,000 loan amount, the SBA guaranteed $77,500.

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 4 employees. The loan application indicated that the loan would help retain 4 existing jobs.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a company in Detroit MI, you ought to talk with a local Detroit SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Detroit businesses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $155,000 loan. Remember, fight for what you want, and it will be yours!

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

The Art of Bootstrapping

SBA 7A Banks in Grand Rapids, Michigan

Getting an SBA Loan in Michigan