Borrowing Money for Gasoline Stations

With these bank loans for gasoline stations, the SBA guarantees the lender that the loan will be repaid. This gasoline stations loan for $350,000 was given to a Florida entrepreneur in 2000.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Ocoee, Florida was able to borrow $350,000 from Transamerica Small Business Capita. The SBA made the loan possible by guaranteeing $262,500 of this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: GASOLINE SERVICE STATIONS
OCOEE, FL 34761

SBA Loan Lender

TRANSAMERICA SMALL BUSINESS CAPITA
220 N MAIN ST, STE 604
GREENVILLE, SC 29601

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

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

1/13/2000

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $262,500.

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 only one employee. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 1 existing job.

Next Steps for Getting an SBA Loan

If you need business start up money in Ocoee FL, you ought to talk with a local Ocoee SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Ocoee businesses.

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:

How to Raise Money

SBA Approved Banks in Greenville, South Carolina

SBA Lenders in South Carolina