Groton, CT Entrepreneur Gets SBA Loan to Buy Shell Service Station Franchise

Need a loan to purchase a Shell Service Station franchise? Washington Tr Co - Westerly has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Shell Service Station franchise shouldn't be overly burdensome. In 2004, Washington Tr Co - Westerly issued an SBA franchise loan to an entrepreneur in Groton, Connecticut. Because Shell Service Station was registered with the SBA's registry of franchises, this Connecticut small business loan was issued on an expedited basis.

SBA Loan Borrower

J & M INVESTMENTS INC
GROTON, CT 06340

SBA Loan Lender

WASHINGTON TR CO - WESTERLY
23 BROAD ST
WESTERLY, RI 02891

This small business 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

4/20/2004

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Shell Service Station franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower indicated that the loan would help retain 3 existing jobs.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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 $50,000 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:

Business Credit Evaluation

Where to Get an SBA Loan in Westerly, Rhode Island

Rhode Island SBA 7A Banks