Michigan Entrepreneur Secures Financing to Buy Mobil Oil stations Franchise

Borrowing money to invest in a Mobil Oil stations franchise? United Bank Of Michigan has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Mobil Oil stations franchise? If so, here's a 2004 SBA franchise loan that you should know about. United Bank Of Michigan was the lender and the entrepreneur was based in Wyoming, Michigan.

SBA Loan Borrower

LEXUR 1 LLC LEXUR II INC LEXUR
WYOMING, MI 49509

SBA Loan Lender

UNITED BANK OF MICHIGAN
900 E PARIS AVE SE
GRAND RAPIDS, MI 49546

This lender provides SBA loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

9/20/2004

Loan Approval Gross Amount

$2,000,000

Loan Approval from the SBA

Of the total $2,000,000 loan amount, the SBA guaranteed $1,500,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Mobil Oil stations franchise. At the time of the loan, the company had 24 employees. This SBA loan request indicated that the loan would help retain 24 existing jobs.

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Advice on Getting a Small Business Loan

SBA Participating Banks in Grand Rapids, Michigan

Michigan SBA Banks