Gasoline Stations SBA Loans
Looking for SBA loans for gasoline stations? An SBA loan may be just what you've been looking for. This $589,000 gasoline stations loan was issued by a California bank.
This business knew how to go about getting a business bank loan. Based in Los Angeles, California, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Wells Fargo Bank, based in San Jose, California.
SBA Loan Borrower
COMPANY TYPE: GASOLINE SERVICE STATIONS
LOS ANGELES, CA 90007
SBA Loan Lender
WELLS FARGO BANK
177 PARK AVE, STE 300, A-0514
SAN JOSE, CA 95113
This lender issued this commercial loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 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.
SIC Code
5541 - Gasoline Service Stations
NAICS Code
447190 - Gasoline Stations
Loan Approval Date
4/10/2000
Loan Approval Gross Amount
$589,000
Loan Approval from the SBA
Of the total $589,000 loan amount, the SBA guaranteed $441,750.
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 5 employees. The SBA loan documents did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees.
Getting an SBA Loan For Your Business
Many small businesses receive loans backed by the U.S. Small Business Administration.
There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.
Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!
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:
Financing Your Business
SBA Approved Banks in San Jose, California
California SBA Bank Lenders