Commercial Loans for Gasoline Stations with Convenience Stores

Looking for commercial loans for gasoline stations with convenience stores? Talk to a banker who works with the SBA. This $110,000 gasoline stations with convenience stores loan was issued by a Michigan bank.

This small business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Firstbank - Lakeview, out of Lakeview, Michigan. The loan was granted and they received $110,000 to help grow their Morley, Michigan business.

SBA Loan Borrower

COMPANY TYPE: GROCERY STORES
MORLEY, MI 49336

SBA Loan Lender

FIRSTBANK - LAKEVIEW
506 S LINCOLN AVE
LAKEVIEW, MI 48850

This lender issued this particular SBA small business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

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

6/27/2002

Loan Approval Gross Amount

$110,000

Loan Approval from the SBA

Of the total $110,000 loan amount, the SBA guaranteed $93,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. This SBA loan request did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Firstbank - Lakeview that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Microlending as a Small Business Funding Source

Best Lakeview, Michigan Banks for Small Business

Getting a Business Loan in Michigan