Maryland Entrepreneur Secures Financing to Buy Hess gas Stations Franchise

Borrowing money to purchase a Hess gas Stations franchise? Sandy Spring Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Glen Burnie, Maryland and are interested in buying a Hess gas Stations franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2000 by Sandy Spring Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

8REEN & WHITE FUELS, INC.
GLEN BURNIE, MD 21061

SBA Loan Lender

SANDY SPRING BANK
17801 GEORGIA AVE
OLNEY, MD 20832

This 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.

SIC Code

5541 - Gasoline Service Stations

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

10/13/2000

Loan Approval Gross Amount

$342,900

Loan Approval from the SBA

Of the total $342,900 loan amount, the SBA guaranteed $257,175.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Hess gas Stations franchise. At the time of the loan, the company had 9 employees. The loan application did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

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

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 Sandy Spring Bank 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.

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