Loan to Buy Shell Service Station Franchise Issued By Cit Small Business Lending Corp

Borrowing money to buy a Shell Service Station franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Shell Service Station franchise? If so, here's a 2000 SBA franchise loan that you should know about. Cit Small Business Lending Corp was the lender and the entrepreneur was based in Waskom, Texas.

SBA Loan Borrower

ROBERT AND VIKI WHITE AND JOHN
WASKOM, TX 75692

SBA Loan Lender

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

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5541 - Gasoline Service Stations

Loan Approval Date

3/27/2000

Loan Approval Gross Amount

$890,000

Loan Approval from the SBA

Of the total $890,000 loan amount, the SBA guaranteed $667,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Shell Service Station franchise. At the time of the loan, the company had 6 employees. The SBA loan documents indicated that the loan would help generate 4 new jobs and 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.

We can help you find the best banks for small businesses in Waskom 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.

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