Newton, MA Entrepreneur Gets SBA Loan to Buy Seven-Eleven 7-11 Food Stores Franchise

Borrowing money to buy a Seven-Eleven 7-11 Food Stores franchise? Rbs Citizens has a history of making these loans and they are guaranteed by the SBA.

Seven-Eleven 7-11 Food Stores franchise loans are available to Newton, Massachusetts entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Rbs Citizens, based in Providence, Rhode Island, issued an SBA franchise loan for a Seven-Eleven 7-11 Food Stores franchise in 2004. We've got all the details on this Massachusetts small business loan.

SBA Loan Borrower

7- ELEVEN
NEWTON, MA 02459

SBA Loan Lender

RBS CITIZENS
ONE CITIZENS PLAZA
PROVIDENCE, RI 02903

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

9/20/2004

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $37,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Seven-Eleven 7-11 Food Stores franchise. At the time of the loan, the company had 20 employees. The SBA loan application for the borrower indicated that the loan would help generate 8 new jobs and retain 28 existing jobs.

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

Every year, the SBA guarantees over $10 billion for loans just like this one.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

7-Eleven, Inc.

Advice on Getting a Small Business Loan

Best Providence, Rhode Island Banks for Small Business

SBA Participating Banks in Rhode Island