Where to Get Capital for Gasoline Stations

With these SBA loans for gasoline stations, the SBA guarantees the lender that the loan will be repaid. This gasoline stations loan for $293,000 was given to an Illinois entrepreneur in 2000.

Getting a small business loan in Lake Zurich, Illinois was important for this small business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Cit Small Business Lending Corp, operating out of Livingston, New Jersey. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: GASOLINE SERVICE STATIONS
LAKE ZURICH, IL 60047

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039

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.

SIC Code

5541 - Gasoline Service Stations

NAICS Code

447190 - Gasoline Stations

Loan Approval Date

7/27/2000

Loan Approval Gross Amount

$293,000

Loan Approval from the SBA

Of the total $293,000 loan amount, the SBA guaranteed $219,750.

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 3 employees. This SBA loan request indicated that the loan would help retain 3 existing jobs.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Obtaining Funding - How to Decide How Much to Raise

Who Lends Money to Small Businesses in Livingston, New Jersey

Getting an SBA Loan in New Jersey