Uniontown, OH Entrepreneur Gets SBA Loan to Buy Marathon Oil Company Franchise

Borrowing money to invest in a Marathon Oil Company 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 Marathon Oil Company franchise may simply require a phone call to a local SBA banker. In 2002, Cit Small Business Lending Corp issued an SBA franchise loan to an entrepreneur in Uniontown, Ohio. Because Marathon Oil Company was registered with the SBA's registry of franchises, this Ohio small business loan was issued on an expedited basis.

SBA Loan Borrower

PASQUALE MILANO & SHARON MILAN
UNIONTOWN, OH 44685

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

447190 - Gasoline Stations

Loan Approval Date

1/16/2002

Loan Approval Gross Amount

$285,000

Loan Approval from the SBA

Of the total $285,000 loan amount, the SBA guaranteed $213,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Marathon Oil Company franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help retain 2 existing jobs.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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.

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