Borrow Money to Buy a Sunoco Service Station Franchise

Borrowing money to purchase a Sunoco Service Station franchise? Fifth Third Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Sunoco Service Station franchise shouldn't be too tough. In 2003, Fifth Third Bank issued an SBA franchise loan to an entrepreneur in West Bloomfield, Michigan. Because Sunoco Service Station was registered with the SBA's registry of franchises, this Michigan small business loan was issued on an expedited basis.

SBA Loan Borrower

MS INVESTMENT COMPANY LLC
WEST BLOOMFIELD, MI 48322

SBA Loan Lender

FIFTH THIRD BANK
111 LYON ST NW
GRAND RAPIDS, MI 49503

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.

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

4/24/2003

Loan Approval Gross Amount

$495,000

Loan Approval from the SBA

Of the total $495,000 loan amount, the SBA guaranteed $371,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Sunoco Service Station franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help retain 9 existing jobs.

Next Steps for Getting an SBA Loan

If you need money to start a business or need money to grow a business, an SBA loan can be a great way to raise money

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $495,000 loan. Remember, fight for what you want, and it will be yours!

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:

Sunoco Service Station

Financing Your Business

SBA Participating Banks in Grand Rapids, Michigan

Where to Get an SBA Loan Michigan