Loan to Buy Phillips 66 Franchise Issued By Minnwest Bank Central

Need a loan to purchase a Phillips 66 franchise? Minnwest Bank Central has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Phillips 66 franchise requires some effort but others before you have been successful. In 2001, Minnwest Bank Central issued an SBA franchise loan to an entrepreneur in Montevideo, Minnesota. Because Phillips 66 was registered with the SBA's registry of franchises, this Minnesota small business loan was issued on an expedited basis.

SBA Loan Borrower

J-C CURTISS, INC.
MONTEVIDEO, MN 56265

SBA Loan Lender

MINNWEST BANK CENTRAL
107 N 1ST ST
MONTEVIDEO, MN 56265

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

7/30/2001

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

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 25 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you want money for new small business in Montevideo MN, you ought to talk with a local Montevideo SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Montevideo businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Minnwest Bank Central and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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