SBA Loan from Pacific City Bank Helps Gasoline Stations With Convenience Stores Company
Pacific City Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Texas entrepreneur who tapped into the power of SBA loans.
This growing company knew how to go about getting a business bank loan. Based in Houston, Texas, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was Pacific City Bank, based in Los Angeles, California.
SBA Loan Borrower
COMPANY TYPE: GASOLINE STATIONS WITH CONVENIENCE STORES
HOUSTON, TX 77090
SBA Loan Lender
PACIFIC CITY BANK
3701 WILSHIRE BLVD, STE 402
LOS ANGELES, CA 90010
As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
447110 - Gasoline Stations with Convenience Stores
Loan Approval Date
5/18/2007
Loan Approval Gross Amount
$576,000
Loan Approval from the SBA
Of the total $576,000 loan amount, the SBA guaranteed $432,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had 3 employees. The SBA loan documents indicated that the loan would help retain 3 existing jobs.
Next Steps for Getting an SBA Loan
Many small businesses receive loans backed by the U.S. Small Business Administration.
We can help you find the best banks for small businesses in Houston 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.
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