Michigan Entrepreneur Secures Financing to Buy Citgo Service Station Franchise

Borrowing money to invest in a Citgo Service Station franchise? Muskegon Commerce Bank 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 2004 SBA franchise loan that you should know about. Muskegon Commerce Bank was the lender and the entrepreneur was based in Muskegon, Michigan.

SBA Loan Borrower

WEST SHORE WASH, INC.
MUSKEGON, MI 49444

SBA Loan Lender

MUSKEGON COMMERCE BANK
281 SEMINOLE RD
MUSKEGON, MI 49444

The lender provided this SBA bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

11/24/2004

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $30,000.

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 12 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need business start up money in Muskegon MI, you ought to talk with a local Muskegon SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Muskegon businesses.

We can help you find the best banks for small businesses in Muskegon or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Citgo Service Station

Equity Financing

SBA Participating Banks in Muskegon, Michigan

SBA Michigan Banks