Loan to Buy Shell Service Station Franchise Issued By Millennium Bank

Need money to buy a Shell Service Station franchise? Millennium Bank has a history of making these loans and they are guaranteed by the SBA.

Shell Service Station franchise loans are available to Front Royal, Virginia entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Millennium Bank, based in Herndon, Virginia, issued an SBA franchise loan for a Shell Service Station franchise in 2004. We've got all the details on this Virginia small business loan.

SBA Loan Borrower

ROY'S EXPRESS
FRONT ROYAL, VA 22630

SBA Loan Lender

MILLENNIUM BANK
1051 ELDEN ST
HERNDON, VA 22070

This lender issued this bank loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5411 - Grocery Stores

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

6/2/2004

Loan Approval Gross Amount

$700,000

Loan Approval from the SBA

Of the total $700,000 loan amount, the SBA guaranteed $525,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Shell Service Station franchise. At the time of the loan, the company had 3 employees. The loan application did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Bank Credit Lines

Where to Get an SBA Loan in Herndon, Virginia

SBA Virginia Lenders