Morrilton, AR Entrepreneur Gets SBA Loan to Buy Phillips 66 Franchise

Need money to purchase a Phillips 66 franchise? Cit Small Business Lending Corp 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 2002, Cit Small Business Lending Corp issued an SBA franchise loan to an entrepreneur in Morrilton, Arkansas. Because Phillips 66 was registered with the SBA's registry of franchises, this Arkansas small business loan was issued on an expedited basis.

SBA Loan Borrower

RAJPOOT ENTER. DBA PHILLIPS 66
MORRILTON, AR 72110

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1526 COLE BLVD., BLDG #3, STE
GOLDEN, CO 80401

This SBA bank loan was provided by financing institution with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loans to the SBA get more expeditious service from the SBA on their loan applications.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

2/27/2002

Loan Approval Gross Amount

$1,333,000

Loan Approval from the SBA

Of the total $1,333,000 loan amount, the SBA guaranteed $999,750.

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 10 employees. The SBA loan application for the borrower did not indicate that the company promised to use the funding to hire new employees or retain any existing employees.

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.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

Obtaining Funding - How to Decide How Much to Raise

SBA Banks in Golden, Colorado

Browse All Business Loan Sources for Colorado