Lilburn, GA Entrepreneur Gets SBA Loan to Buy Conoco Service Station Franchise

Need money to purchase a Conoco Service Station franchise? Branch Bank & Trust has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Conoco Service Station franchise shouldn't be too tough. In 2001, Branch Bank & Trust issued an SBA franchise loan to an entrepreneur in Lilburn, Georgia. Because Conoco Service Station was registered with the SBA's registry of franchises, this Georgia small business loan was issued on an expedited basis.

SBA Loan Borrower

CONOCO FOOD MART
LILBURN, GA 30047

SBA Loan Lender

BRANCH BANK & TRUST
200 W 2ND ST
WINSTON SALEM, NC 27101

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.

NAICS Code

445120 - Convenience Stores

Loan Approval Date

6/1/2001

Loan Approval Gross Amount

$694,500

Loan Approval from the SBA

Of the total $694,500 loan amount, the SBA guaranteed $520,875.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Conoco Service Station franchise. At the time of the loan, the company had 7 employees. The loan application indicated that the loan would help generate 7 new jobs and retain 7 existing jobs.

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.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $694,500 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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