Derby (derby-Shelton), CT Entrepreneur Gets SBA Loan to Buy Citgo Service Station Franchise

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

An entrepreneur in Derby (derby-Shelton), Connecticut needed money to invest in a Citgo Service Station franchise back in 2007. Newalliance Bank issued an SBA franchise loan. Here are the details on this Connecticut small business loan.

SBA Loan Borrower

CITGO QUICK STOP
DERBY (DERBY-SHELTON), CT 06418

SBA Loan Lender

NEWALLIANCE BANK
195 CHURCH ST
NEW HAVEN, CT 06510

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

6/27/2007

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

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 only one employee. The SBA loan documents indicated that the loan would help retain 4 existing jobs.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Newalliance Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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

A Company That Helps Entrepreneurs

Small Bank Loans in New Haven, Connecticut

SBA Participating Banks in Connecticut