Borrowing Money for Petroleum and Petroleum Products Wholesalers

With these loans for petroleum and petroleum products wholesalers, the SBA guarantees the lender that the loan will be repaid. This petroleum and petroleum products wholesalers loan for $300,000 was given to a California entrepreneur in 2000.

This small firm knew how to go about getting a business bank loan. Based in Lodi, California, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Farmers & Merchants Bank - Cent., based in Elk Grove, California.

SBA Loan Borrower

COMPANY TYPE: PETROLEUM AND PETROLEUM PRODUCTS
LODI, CA 95240

SBA Loan Lender

FARMERS & MERCHANTS BANK - CENT.
8788 ELK GROVE BLVD
ELK GROVE, CA 95624

This lender provides SBA loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5172 - Petroleum and Petroleum Products

NAICS Code

422720 - Petroleum and Petroleum Products Wholesalers

Loan Approval Date

6/20/2000

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $225,000.

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 8 employees. This SBA loan request indicated that the loan would help generate 16 new jobs and retain 8 existing jobs.

Next Steps for Getting an SBA Loan

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.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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