Marquette, MI Entrepreneur Gets SBA Loan to Buy Phillips 66 Franchise

Borrowing money to buy a Phillips 66 franchise? Range Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Marquette, Michigan and are interested in buying a Phillips 66 franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2003 by Range Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

MENHENNICK ENTERPRISES, INC.
MARQUETTE, MI 49855

SBA Loan Lender

RANGE BANK
350 IRON ST
NEGAUNEE, MI 49866

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a 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

1/9/2003

Loan Approval Gross Amount

$486,000

Loan Approval from the SBA

Of the total $486,000 loan amount, the SBA guaranteed $364,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Phillips 66 franchise. At the time of the loan, the company had 20 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans provide money to small business owners for working capital for other expenses.

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 $486,000 loan. Remember, if it to be, it is up to me!

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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