Oquawka, IL Entrepreneur Gets SBA Loan to Buy Phillips 66 Franchise

Borrowing money to invest in a Phillips 66 franchise? American Enterprise Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Phillips 66 franchise? If so, here's a 2006 SBA franchise loan that you should know about. American Enterprise Bank was the lender and the entrepreneur was based in Oquawka, Illinois.

SBA Loan Borrower

S&R PETROLEUM, INC.
OQUAWKA, IL 61469

SBA Loan Lender

AMERICAN ENTERPRISE BANK
600 N BUFFALO GROVE RD
BUFFALO GROVE, IL 60089

This lender provides SBA small business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

12/15/2006

Loan Approval Gross Amount

$532,000

Loan Approval from the SBA

Of the total $532,000 loan amount, the SBA guaranteed $399,000.

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 5 employees. The SBA loan application for the borrower indicated that the loan would help retain 5 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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 Borrow Money

Banks in Buffalo Grove, Illinois

Getting an SBA Loan in Illinois