Getting an SBA Loan for Gasoline Stations with Convenience Stores

Looking for SBA loans for gasoline stations with convenience stores? Talk to a banker who works with the SBA. This $150,000 gasoline stations with convenience stores loan was issued by a Tennessee bank.

This small business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with First Bank, out of Paris, Tennessee. The loan was granted and they received $150,000 to help grow their Camden, Tennessee business.

SBA Loan Borrower

COMPANY TYPE: GROCERY STORES
CAMDEN, TN 38320

SBA Loan Lender

FIRST BANK
1068 MINERAL WELLS AVE
PARIS, TN 38242

This lender issued this particular SBA small business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

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

1/9/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 5 employees. The loan application did not indicate that the small business planned to use the money to hire new 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.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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:

Bank Credit Lines

SBA Banks in Paris, Tennessee

SBA Participating Banks in Tennessee