California Entrepreneur Secures Financing to Buy Arco gas Station Franchise

Need a loan to buy an Arco gas Station franchise? Center Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy an Arco gas Station franchise shouldn't be too tough. In 2006, Center Bank issued an SBA franchise loan to an entrepreneur in Irwindale, California. Because Arco gas Station was registered with the SBA's registry of franchises, this California small business loan was issued on an expedited basis.

SBA Loan Borrower

RACHEL & BEN'S ARCO
IRWINDALE, CA 91706

SBA Loan Lender

CENTER BANK
253 N WESTERN AVE
LOS ANGELES, CA 90004

This lender issued this SBA loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

6/2/2006

Loan Approval Gross Amount

$1,240,000

Loan Approval from the SBA

Of the total $1,240,000 loan amount, the SBA guaranteed $930,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy an Arco gas Station franchise. At the time of the loan, the company had 8 employees. This SBA loan request did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

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

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Center Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Microlending as a Small Business Funding Source

SBA Approved Banks in Los Angeles, California

Getting an SBA Loan in California