Financing for Gasoline Stations with Convenience Stores

With these commercial loans for gasoline stations with convenience stores, the SBA guarantees the lender that the loan will be repaid. This gasoline stations with convenience stores loan for $229,300 was given to a Vermont entrepreneur in 2003.

Getting a small business loan in Bridgewater Corners, Vermont was important for this business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Lake Sunapee Bank, Fsb, operating out of Woodstock, Vermont. Here are the details on this Vermont small business loan.

SBA Loan Borrower

COMPANY TYPE: GASOLINE STATIONS WITH CONVENIENCE STORES
BRIDGEWATER CORNERS, VT 05035

SBA Loan Lender

LAKE SUNAPEE BANK, FSB
1 BOND ST
WOODSTOCK, VT 05091

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA small business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

6/27/2003

Loan Approval Gross Amount

$229,300

Loan Approval from the SBA

Of the total $229,300 loan amount, the SBA guaranteed $171,975.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the small business promised to use the money to add employees or retain any existing employees.

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

Every year, the SBA guarantees over $10 billion for loans just like this one.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Lake Sunapee Bank, Fsb and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Dealing With Venture Capitalists

Small Business Banks in Woodstock, Vermont

SBA Lenders in Vermont