Michigan Entrepreneur Secures Financing to Buy Sunoco Service Station Franchise

Need a loan to invest in a Sunoco Service Station franchise? The State Bank has a history of making these loans and they are guaranteed by the SBA.

Sunoco Service Station franchise loans are available to Fenton, Michigan entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, The State Bank, based in Fenton, Michigan, issued an SBA franchise loan for a Sunoco Service Station franchise in 2000. We've got all the details on this Michigan small business loan.

SBA Loan Borrower

FENTON SUNOCO AUTO REPAIR, INC
FENTON, MI 48430

SBA Loan Lender

THE STATE BANK
175 N LEROY ST
FENTON, MI 48430

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7538 - General Automotive Repair Shops

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

11/3/2000

Loan Approval Gross Amount

$24,700

Loan Approval from the SBA

Of the total $24,700 loan amount, the SBA guaranteed $19,760.

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 only one employee. The SBA loan application for the borrower did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

We can help you find the best banks for small businesses in Fenton or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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

Accountant's Role in Securing Financing

Small Bank Loans in Fenton, Michigan

SBA Lenders in Michigan