Valley National Bank SBA Loan to Gasoline Service Stations Company

An SBA loan from Valley National Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Largo, Maryland business owner got a $517,000 loan.

Getting a small business loan in Largo, Maryland was an essential business goal for this company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Valley National Bank, operating out of Passaic, New Jersey. Here are the details on this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: GASOLINE SERVICE STATIONS
LARGO, MD 20774

SBA Loan Lender

VALLEY NATIONAL BANK
615 MAIN AVE
PASSAIC, NJ 07055

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide business loans to American small businesses.

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

4/2/2001

Loan Approval Gross Amount

$517,000

Loan Approval from the SBA

Of the total $517,000 loan amount, the SBA guaranteed $387,750.

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 10 employees. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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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