Financing for Gasoline Stations with Convenience Stores

Looking for commercial loans for gasoline stations with convenience stores? An SBA loan may be just what you've been looking for. This $1,625,000 gasoline stations with convenience stores loan was issued by a South Carolina bank.

This small business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Ameris Bank, out of Beaufort, South Carolina. The loan was granted and they received $1,625,000 to help grow their Beaufort, South Carolina business.

SBA Loan Borrower

COMPANY TYPE: GASOLINE STATIONS WITH CONVENIENCE STORES
BEAUFORT, SC 29902

SBA Loan Lender

AMERIS BANK
2348 BOUNDARY ST
BEAUFORT, SC 29902

This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

3/18/2002

Loan Approval Gross Amount

$1,625,000

Loan Approval from the SBA

Of the total $1,625,000 loan amount, the SBA guaranteed $999,375.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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:

Debt Financing

SBA 7A Banks for Beaufort, South Carolina Loans

Getting an SBA Loan in South Carolina