Loans for Gasoline Stations with Convenience Stores
With these loans for gasoline stations with convenience stores, the SBA guarantees the lender that the loan will be repaid. This gasoline stations with convenience stores loan for $149,000 was given to a Kentucky entrepreneur in 2000.
This company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Farmers Bank & Trust, out of Sharpsburg, Kentucky. The loan was granted and they received $149,000 to help grow their Olympia, Kentucky business.
SBA Loan Borrower
COMPANY TYPE: GROCERY STORES
OLYMPIA, KY 40358
SBA Loan Lender
FARMERS BANK & TRUST
648 MAIN ST
SHARPSBURG, KY 40374
This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.
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
10/25/2000
Loan Approval Gross Amount
$149,000
Loan Approval from the SBA
Of the total $149,000 loan amount, the SBA guaranteed $111,750.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company
had 4 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.
Getting an SBA Loan For Your Business
SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.
Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Farmers Bank & Trust 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:
Attracting Investors
SBA Participating Banks in Sharpsburg, Kentucky
Where to Get an SBA Loan Kentucky