Borrow Money to Buy a Citgo Service Station Franchise

Need money to invest in a Citgo Service Station franchise? Shorebank has a history of making these loans and they are guaranteed by the SBA.

If you live near Mundelein, Illinois 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 Shorebank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

CITGO
MUNDELEIN, IL 60060

SBA Loan Lender

SHOREBANK
219 S MANNHEIM RD
BELLWOOD, IL 60104

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

424720 - Petroleum and Petroleum Products Merchant Wholesalers

Loan Approval Date

5/12/2005

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Citgo Service Station franchise. At the time of the loan, the company had 4 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you need business start up money in Mundelein IL, you ought to talk with a local Mundelein SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Mundelein businesses.

This SBA loan was for $150,000. How would you spend $150,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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