Financing for Gasoline Stations with Convenience Stores

With these 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 $500,000 was given to a Texas entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Cleveland, Texas was able to borrow $500,000 from Woodforest National Bank. The SBA made the loan possible by guaranteeing $375,000 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: GASOLINE STATIONS WITH CONVENIENCE STORES
CLEVELAND, TX 77327

SBA Loan Lender

WOODFOREST NATIONAL BANK
13301 EAST FRWY
HOUSTON, TX 77015

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

4/16/2004

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $375,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 6 existing jobs.

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

If you want money for new small business in Cleveland TX, you ought to talk with a local Cleveland SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Cleveland businesses.

We can help you find the best banks for small businesses in Cleveland or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Understanding Dilution

SBA Participating Banks in Houston, Texas

SBA Participating Banks in Texas