 |
 |
December 18, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > Texas Business Loan Sources > Houston, Business Loans > Sterling Bank Houston Business Loans > Gasoline Stations With Convenience Stores Loan | ||||
 |
||||
Sterling Bank
|
||||
 |
Sterling Bank SBA Loan to Gasoline Stations With Convenience Stores CompanySterling Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Texas entrepreneur was able to get a loan to take a small business to the next level. This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Sterling Bank, out of Houston, Texas. The loan was granted and they received $938,000 to help grow their Houston, Texas business. SBA Loan Borrower COMPANY TYPE: GASOLINE STATIONS WITH CONVENIENCE STORES SBA Loan Lender STERLING BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA 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 10/25/2004 Loan Approval Gross Amount $938,000 Loan Approval from the SBA Of the total $938,000 loan amount, the SBA guaranteed $703,500. 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 only one employee. The SBA loan documents indicated that the loan would help generate 15 new jobs. Great, But How Can I Get an SBA Loan for My Business? SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. 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 Sterling 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. Related Links: Accountant's Role in Securing Financing SBA Approved Banks in Houston, Texas
|
|
||
|
||||
|
|
||||