Borrow Money to Buy a Mobil Oil stations Franchise

Need a loan to buy a Mobil Oil stations franchise? Washington Tr Co - Westerly has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Westerly, Rhode Island needed money to invest in a Mobil Oil stations franchise back in 2003. Washington Tr Co - Westerly issued an SBA franchise loan. Here are the details on this Rhode Island small business loan.

SBA Loan Borrower

MAIN STREET MOBIL
WESTERLY, RI 02891

SBA Loan Lender

WASHINGTON TR CO - WESTERLY
23 BROAD ST
WESTERLY, RI 02891

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5411 - Grocery Stores

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

7/11/2003

Loan Approval Gross Amount

$87,500

Loan Approval from the SBA

Of the total $87,500 loan amount, the SBA guaranteed $74,375.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Mobil Oil stations franchise. At the time of the loan, the company had 8 employees. The SBA loan application for the borrower did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great funding source

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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

SBA 7A Banks in Westerly, Rhode Island

SBA Rhode Island Banks