Texas Entrepreneur Secures Financing to Buy Chevron gas Station Franchise

Need money to purchase a Chevron gas Station franchise? Compass Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Alvarado, Texas and are interested in buying a Chevron gas Station franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2000 by Compass Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

ALVARADO MARKET STATION LLC
ALVARADO, TX 76009

SBA Loan Lender

COMPASS BANK
15 S 20TH ST
BIRMINGHAM, AL 35233

When it made this small business loan, the lender participated in the SBA's Certified Lenders Program (CLP). This program aims to provide rapid service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5541 - Gasoline Service Stations

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

12/4/2000

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $111,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Chevron gas Station franchise. At the time of the loan, the company had 25 employees. This SBA loan request did not indicate that the small business promised to use the money to add employees 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.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Alternative Financing

SBA 7A Banks in Birmingham, Alabama

Getting an SBA Loan in Alabama