Borrow Money to Buy a Citgo Service Station Franchise
Need money to invest in a Citgo Service Station franchise? Lasalle Bank Midwest has a history of making these loans and they are guaranteed by the SBA.
Want to borrow money to buy a Citgo Service Station franchise? If so, here's a 2003 SBA franchise loan that you should know about. Lasalle Bank Midwest was the lender and the entrepreneur was based in Harbor Springs, Michigan.
SBA Loan Borrower
CARLEOTN ENTERPRISES INC
HARBOR SPRINGS, MI 49710
SBA Loan Lender
LASALLE BANK MIDWEST
124 W ALLEGAN
LANSING, MI 48933
This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
447110 - Gasoline Stations with Convenience Stores
Loan Approval Date
3/25/2003
Loan Approval Gross Amount
$1,275,000
Loan Approval from the SBA
Of the total $1,275,000 loan amount, the SBA guaranteed $956,250.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was used to buy a Citgo Service Station franchise. At the time of the loan, the company
had 7 employees. The loan application indicated that the loan would help retain 7 existing jobs.
Start the Process for Getting an SBA Loan Today!
SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.
There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.
Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!
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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