Texas Entrepreneur Secures Financing to Buy Mobil Oil stations Franchise

Borrowing money to buy a Mobil Oil stations franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Mobil Oil stations franchise shouldn't be too tough. In 2000, Comerica Bank issued an SBA franchise loan to an entrepreneur in Frisco, Texas. Because Mobil Oil stations was registered with the SBA's registry of franchises, this Texas small business loan was issued on an expedited basis.

SBA Loan Borrower

STONEBROOK MOBIL
FRISCO, TX 75034

SBA Loan Lender

COMERICA BANK
1900 W LOOP SOUTH
HOUSTON, TX 77027

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.

SIC Code

5541 - Gasoline Service Stations

Loan Approval Date

8/3/2000

Loan Approval Gross Amount

$1,018,000

Loan Approval from the SBA

Of the total $1,018,000 loan amount, the SBA guaranteed $749,991.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Mobil Oil stations franchise. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help generate 5 new jobs and retain 6 existing jobs.

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

If you need money to start a small business or already have a business and need money to expand, an SBA loan can be a great source of funding.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Comerica Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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