Covington, GA Entrepreneur Gets SBA Loan to Buy Citgo Service Station Franchise

Borrowing money to buy a Citgo Service Station franchise? Branch Bank & Trust has a history of making these loans and they are guaranteed by the SBA.

If you live near Covington, Georgia and are interested in buying a Citgo Service Station franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2005 by Branch Bank & Trust. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

YASH & RAJI LLC(EPC) AND M GLO
COVINGTON, GA 30014

SBA Loan Lender

BRANCH BANK & TRUST
1134 CLARK ST
COVINGTON, GA 30326

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

5/16/2005

Loan Approval Gross Amount

$1,655,000

Loan Approval from the SBA

Of the total $1,655,000 loan amount, the SBA guaranteed $1,241,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Citgo Service Station franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 2 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Branch Bank & Trust and they will explain how you can get an SBA loan for your company.

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:

Citgo Service Station

How to Raise Money

Small Bank Loans in Covington, Georgia

Where to Get an SBA Loan Georgia