Loan Census Banking News and Information
March 29, 2024  
 
 
  Business Loan Information  
 

Millville, Connecticut Bank Loan

 

 
Loan Census SBA Loan Info

Loan to Buy Shell Service Station Franchise Issued By Bank Of America

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

Shell Service Station franchise loans are available to Millville, Connecticut entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Bank Of America, based in Providence, Rhode Island, issued an SBA franchise loan for a Shell Service Station franchise in 2000. We've got all the details on this Connecticut small business loan.

SBA Loan Borrower

WOODMONT SHELL
MILLVILLE, CT 06460

SBA Loan Lender

BANK OF AMERICA
111 WESTMINSTER ST
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.

SIC Code

5411 - Grocery Stores

Loan Approval Date

5/11/2000

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

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 6 employees. The SBA loan application for the borrower indicated that the loan would help retain 6 existing jobs.

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

SBA loans provide smart, affordable business financing for small businesses looking to expand.

We've showcased information on this loan to let you know that businesses like yours 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:

Family and Friend Investors - Your First Financiers

Banks in Providence, Rhode Island

Rhode Island SBA 7A Banks