Get an SBA Loan for Gasoline Stations with Convenience Stores

Looking for small business loans for gasoline stations with convenience stores? An SBA loan may be just what you've been looking for. This $660,000 gasoline stations with convenience stores loan was issued by a Tennessee bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Memphis, Tennessee was able to borrow $660,000 from First State Bank. The SBA made the loan possible by guaranteeing $495,000 of this Tennessee small business loan.

SBA Loan Borrower

COMPANY TYPE: GROCERY STORES
MEMPHIS, TN 38117

SBA Loan Lender

FIRST STATE BANK
109 UNIVERSITY ST
MARTIN, TN 38237

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This small business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5411 - Grocery Stores

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

5/6/2004

Loan Approval Gross Amount

$660,000

Loan Approval from the SBA

Of the total $660,000 loan amount, the SBA guaranteed $495,000.

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 6 employees. This SBA loan request did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from First State Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Role of Business Plan When Raising Money

Banks in Martin, Tennessee

Tennessee SBA 7A Banks